Brussels, 04/10/2004 (Agence Europe) - On Friday the EU's Accounting Regulatory Committee (ARC) voted, by a qualified majority, to give a favourable opinion on the European Commission's proposal to endorse a watered-down version of IAS 39 on accounting standards. It was watered-down because it has rejected two aspects of the standard, opposed by France, Italy, Spain and Belgium, namely provisions on "fair value", a method used to evaluate their market value at the time (and not their...