Accounting standards regulations: US and Japan parent companies - review of costs and benefits
Read the full outcome
Detail of outcome
You can view the final legislation . The regulations allow parent companies listed on stock exchanges in USA or Japan, wishing to move to the UK, a longer period to comply with UK reporting requirements for their group accounts. The enhanced regulations will give eligible companies a permanent rolling transition period of up to 4 years to adopt UK accounting standards.
Original consultation
Consultation description
We鈥檙e reviewing the . The regulations allow companies listed on the stock and securities exchanges in US or Japan, but not in the EU, to continue to use their for group accounts until December 2014. Our aim for this temporary provision was to give these companies a reasonable period to make the transition in their accounting practices.
We鈥檙e asking for your views so we can understand how the changes have affected companies and the UK鈥檚 wider accountancy system. The review will inform our policy in this area and, in particular, whether the regulations should be remade in some form.
Updates to this page
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Completed post implementation review of the regulations and outcome published.
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First published.