11.   The financial reporting standards used by red chips still fall short of U.S. companies.

12.   The ministry said, though, that preliminary statistics on the building industry are skewed by the switch to European Union reporting standards.

13.   With lax reporting standards, weak laws and a high mortality rate among banks, paper trails meander through tangles of shifting owners and sometimes disappear.

14.   Other ways to improve market efficiency and competitiveness included better corporate governance, market transparency, and financial reporting standards and disclosure.

15.   Experts also criticized existing reporting standards.

16.   For that purpose, he said, the Securities and Exchange Commission was instructed to coordinate with BIR to devise a common reporting standard to speed up work processing.

17.   He suggested that Japanese and American airlines have different reporting standards, and that comparing numbers of reported flight problems may be unfair.

18.   He suggested Friday that Japanese and American airlines have different reporting standards, and that comparing numbers of reported flight problems may be unfair.

19.   However, the OECD said current reporting standards are not stringent enough.

20.   Most jurisdictions listed have since pledged to comply with OECD tax reporting standards, and so will be removed from a new list due out later this month.