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Securities firms to apply separate accounting

Update: March, 23/2013 - 08:59

HA NOI (VNS)— The State Securities Commission is building a separate accounting standard to be applied to securities companies.

According to many accounting experts, current accounting and auditing regulations contain many gaps and do not fully reflect the nature of financial assets, especially the provisions relating to unlisted stocks.

According to Pham Hong Son, director of the commission's Securities Business Management Department, the application of new regulations for securities firms will help enhance transparency of their financial health.

"Under the plan, securities companies will have to apply the new accounting system in their financial statements of 2013," he said.-VNS


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