Speech for the XII International Congress of Accountants in Mexico City on October 11th, 1982

As leading professionals in the accounting world our company, Philips, must be very well known to you for at least two reasons: In the first place, because it is one of the leaders in the field of current value accounting a valuation and profit calculation technique that is fortunately steadily gaining ground. In the second place, because our external reporting through the medium of the annual report has recently twice scored very highly in a study carried out by the Financial Times publishing company. For the benefit of anyone for whom that would not be enough, however, I would like to add that Philips is a multinational company with its own industrial organisations in around 70 countries. Our company manufactures some hundreds of thousands of different electrotechnical and electronic products in twelve different product divisions and its markets and/or produces them in virtually every country of the world. With total assets employed in 1981 of some 17.5 billion U.S. dollars, Philips achieved sales of over $17 billion with a workforce of around 350,000 employees world-wide.