SEC Proposes Roadmap for U.S. Issuers to Switch to IFRS
November 26, 2008
On November 14, 2008, the U.S. Securities and Exchange Commission (SEC) published its long-awaited “roadmap” to a potential future mandatory requirement for U.S. issuers to prepare and issue financial reports under International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) instead of U.S. generally accepted accounting principles (U.S. GAAP). Comments on the rule proposal are due no later than February 19, 2009.
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