Yesterday, the SEC voted unanimously to publish a Concept Release seeking public comment on allowing U.S. issuers to use International Financial Reporting Standards. This would be change from current requirements mandating that U.S. issuers prepare their financials using U.S. GAAP. According to a statement by SEC chairman Christopher Cox, almost 100 countries either require or allow the use of IFRS.
The SEC's press release is available at http://www.sec.gov/news/press/2007/2007-145.htm.
1 comment:
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