US accounting could reach Europe through NYSE merger
New York Stock Exchange merger with Deutsche Boerse could encourage US accounting take-up
EUROPEAN COMPANIES will be pushed down the US accounting rules route through the merger of the New York Stock Exchange and the Deutsche Boerse, said New York mayor Michael Bloomberg.
“This will force a common set of accounting standards on the world; the American disclosures are better,” Bloomberg said on his WOR radio show, reported Reuters.
The SEC is set to make a decision on alignment with international accounting standards later this year.