Small and medium-sized businesses garner exemptions.
The European Union is requiring listed companies to disclose off-balance-sheet transactions and provide more information about their corporate-governance practices, according to The Financial Times.
The new rules, proposed by the European Commission in October 2004, are partly in response to accounting scandals at Enron Corp. and Parmalat, the paper pointed out. Both companies have been accused of hiding their crumbling financial positions in hard-to-decipher off-balance-sheet vehicles.
See full Article.
Posts
