Federal regulators tentatively agreed Wednesday to ease an accounting requirement for foreign companies that trade on United States exchanges.
The action by the Securities and Exchange Commission paves the way for a related change that would allow public companies to choose between international and United States accounting standards when reporting financial results.
The step taken by the S.E.C. on Wednesday would eliminate a requirement for foreign companies to reconcile their financial results with United States standards called generally accepted accounting principles, or GAAP. Foreign companies, which already adhere to what are called international financial reporting standards, say the S.E.C. mandate is burdensome and costly.
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