abstract:Generally Accepted Accounting Practice in the UK, or UK GAAP, is the overall body of regulation establishing how company accounts must be prepared in the United Kingdom. This includes not only accounting standards, but also UK company law.
Merck spokeswoman Gwen Fisher said Merck is confident that Medco's practice is in accordance with GenerallyAcceptedAccounting Principles, and added that the company did not want to make any further comment because it is in a quiet period preceding the Medco IPO.