Tuesday, December 18, 2007

Subprime crisis not seen changing accounting rules

NEW YORK: As banks reel from massive US subprime losses, some experts argue that creating transparency in the market would be more effective at restoring public confidence than changing accounting rules.

"The regulator's tools for the most part are disclosure," Roel Campos, former US Securities and Exchange Commissioner (SEC), said at the International Federation of Accountants' World Accountancy Forum in New York on Tuesday.

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