Comparing International GAAP.

Economic globalization requires increased international comparability in financial reporting, and to this end, accounting standard-setters in Canada, Chile, Mexico and the U.S. have completed cooperative efforts to produce the latest (third) edition of a report comparing generally accepted accounting principles (GAAP) in their countries. Titled "Significant Differences in GAAP in Canada, Chile, Mexico and the United States," the analysis of accounting pronouncements was recently published by the Canadian Institute of Chartered Accountants (CICA).

The analysis examines current accounting pronouncements and identifies differences in standards, not just among the four countries but also between those countries and the IASC. In addition to the English edition, the Canadian Institute has also published a French edition, and a Spanish edition is scheduled for publication by the Instituto Mexicano de Contadores Publicos A.C. in April. Additional information, including ordering capability for the English and French versions of the analysis, is available from the CICA, http://www.cica.ca.