Reform Of International LRG Accounting Standards Gaining Momentum Says S&P Report Jun 05

Standard & Poors, June 2005

Abstract
TORONTO (Standard & Poor's) June 7, 2005--The global move to reform local and regional government (LRG) accounting standards and practices has been gathering momentum in the past decade, said a report titled "Greater Disclosure Positive For International LRG Credit Analysis," published today by Standard & Poor's Ratings Services. "This move has been driven by the need to improve transparency of financial information and the consistency of published information across global LRGs," said Standard & Poor's credit analyst Stephen Ogilvie. The reforms have been primarily focused on the need to adopt more corporate-style accounting practices, such as accrual-based reporting, and in many cases the introduction of a full set of financial statements where no full set existed before. A further extension...

Companies mentioned in this report are:
- Australia (Commonwealth of) (Unsolicited Ratings)
- Canada
- Sweden (Kingdom of)
- France (Republic of) (Unsolicited Ratings)
- Japan (Unsolicited Ratings)
- Spain (Kingdom of)
- Germany (Federal Republic of) (Unsolicited Ratings)
- Italy (Republic of) (Unsolicited Ratings)
- Korea (Republic of)
- Portugal (Republic of)
- Czech Republic
- Poland (Republic of)
- Russian Federation
- Mexico (State of)

Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Australia (Commonwealth of) (Unsolicited Ratings)
- Canada
- Sweden (Kingdom of)
- France (Republic of) (Unsolicited Ratings)
- Japan (Unsolicited Ratings)
- Spain (Kingdom of)
- Germany (Federal Republic of) (Unsolicited Ratings)
- Italy (Republic of) (Unsolicited Ratings)
- Korea (Republic of)
- Portugal (Republic of)
- Czech Republic
- Poland (Republic of)
- Russian Federation
- Mexico (State of)

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