of the importance of transparent accounting
Enron crisis revealed a number of problems that US GAAP had. And it made people aware of the importance of transparent accounting. As a result, in 2002 at a meeting in Norwalk, Connecticut, the International Accounting Standard Board and the US Financial Accounting Standards Board agreed to harmonize their agenda and work towards reducing differences b
for fighting money laundering is to enable law enforcement authorities to confiscate the proceeds of predicate criminal activities. So, effective anti-money laundering has 4 conditions. First, it imposes a number of obligations on financial institutions. Second, it requires harmonization efforts in substantive criminal law. Third, it has to give criminal justice a new important
National, economical aspect
- necessity of megabank which is influential and can take charge of huge PF in foreign exchange market.
- weakness of investment bank.
Financial aspect
- saturation of banking industry so that they need to extend abroad.
The government advocate the privatization for promote the ‘IB (Investment Bank)’ which have International competitiven
of capital
recovery for creditors rather than consolidated F/S and form over substance.
∙ Through the globalization offinancial markets, the demand of acquiring fund to
participate in International capital market was getting higher in Germany but there
were many differences between German accounting standard and US-GAAP.
They had to prepare dual F/S
of medical device companies. More than 2100 companies in 20 different countries such as United States, EU, Japan, Singapore and so on, participated on 61st Chinese International Medical Device exhibition and made the record for the largest participants.
5. Threats from China
1) Government Supports Chinese company and Regulates foreign company
To let Chinese medical device manufacturers gro