FASB Chairman on IFRS
By Edith Orenstein, FEI Financial Reporting Blog -
In an interview published in the September issue of Financial Executive Magazine, published by FEI, FASB Chairman Robert H. Herz advocated for FASB’s ‘improve and adopt’ approach to IFRS, said ‘going forward it is our intent to have identical standards’ to IFRS, and called for the formation of a national steering group to address issues relating to the move to IFRS. Private companies, in addition to public companies, will be impacted by the move to IFRS. Read more here.