4 Pages


The growing internationalization of markets, the relaxation of constraints on capital fl ows between countries, and the creation of different economic unions (the European Union in particular) has initiated the fl ow of capital, goods, and services across national borders, the growth and diffusion of shareholding, as well as increasing merger activity among the world’s largest stock exchanges. These changes have in turn created interest in understanding the merits of new developments in accounting to a higher qualitative level.