ASIAN ACCOUNTING EXPERTS RESPOND TO G20 GLOBAL FINANCIAL REGULATION REFORMS – CHINA
April 1st, 2009
BY MARK GODFREY
The new planned G20 rules on financial stability and accounting will have less impact on mainland China than they will on Hong Kong, said Robert Agnew, CEO of Matrix Services, a consultancy advising financial firms on pan-China deals: "Mainland China has gotten its accountancy rules into line with global norms, and it now uses a limited form of fair value accounting.
China will act if it thinks it's really having a say in how the rules are set."
However, he said Hong Kong was "very scared" by the implications of being flagged ...
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