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with the requirements of FAS No. 87, Employers' Accounting for Pension

FAS 88: Employers' Accounting for Settlements and Curtailments of Defined Benefit Pension Plans and for Termination Benefits

And in FAS 106: Employers' Accounting for Post Retirement Benefits other than Pensions.

Under FRS 17, the expected costs of providing retirement benefits are charged to the profit and loss account over the period benefiting from the employee's service based upon actuarial methodologies that are similar to those applied under US GAAP. Variations from the expected costs are recognised as they occur in the statement of total recognised gains and losses, with pension plan assets and liabilities included in the Group balance sheet at fair value. Under UK GAAP pension assets in the balance sheet are recognised at their market value at the balance sheet date, whereas under US GAAP the valuation is based on a market-related value.

A significant difference between UK and US GAAP can result from the application of the 'corridor approach' under US GAAP, whereby variations from expected costs are recognised in the profit and loss account and balance sheet over the expected service lives of the employees.

资本化利息：——Capitalized interest:

Under US GAAP, interest incurred as part of the cost of constructing fixed assets is capitalised and amortised over the lives of the qualifying assets in accordance with FAS 34. In accordance with common UK practice, Gallaher does not capitalise such interest in its financial statements.

商誉和无形资产摊销:——Goodwill and intangible asset amortization:

Both UK and US require purchase consideration to be allocated to net assets acquired at their fair value on the date of acquisition, although the criteria for allocating amounts to intangible assets differs. For US GAAP purposes, Gallaher allocated a portion of its consideration to amortising intangible assets as required by FAS 141, Business Combinations, whereas for UK GAAP, such amounts were included in goodwill, as they did not meet the criteria for separable allocation, etca€|

Corporate Responsibility and Sarbanes Oxley Act (SOX Act):

Beside with financial statements standards like IASB, IFRS, US GAAP, UK GAAP, etca€| international finance companies almost on securities markets. All activities investing, information of them must update and clear fair for investors, shareholders, must comply with law and regulations of securities markets and The SEC (Securities and Exchange Commission) was established to enforce regulations and law for securities, these regulations and law require companies when joining securities market must comply. In addition, responsibility and ethics of corporate is most important and factors decide success or failure of corporate. Enron is an example of responsibility and ethics of corporate, scandals cheat on financial statements and after the death of Enron, SOX Act (Sarbanes Oxley Act) was passed in 2002 by U.S Government for tight responsibility of corporate in management and internal control, in section 802 of SOX Act: This section imposes penalties of 5 or up to 20 years imprisonment for altering, destroying, mutilating, concealing, falsifying records, documents or tangible objects with the intent to obstruct, impede or influence a legal investigation. This section also impo