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Dutch accounting scandal has silver lining for U.S.(STOCKS)(Royal Ahold's Enronesque troubles)(Brief Article)
Kiplinger Letter, The, March, 2003
A Dutch accounting scandal has a silver lining for U.S. investors who buy foreign stocks listed in the U.S. or who invest overseas. Royal Ahold's Enronesque troubles undercut complaints by foreign firms that provisions of a tough new U.S. business fraud law are too harsh.
European firms are now less likely to delist from U.S. exchanges, as many said they would do to protest the Sarbanes-Oxley legislation. Those companies will now simply eat the costs of tougher disclosure regs.
And more developing nations will adopt U.S.-style auditing rules, making them safer places to do business as corporate governance improves. Russia, Brazil, Argentina, Indonesia, Malaysia and the Philippines have been monitoring the U.S.-Europe tussle over accounting regulations...
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