IFRS Insights; Update on FAS 5, COSO

Posted by accountingweb on Aug 26 2008 954 printer friendly

By Edith Orenstein, FEI Financial Reporting Blog - With the SEC slated to vote on Aug. 27 whether to propose an IFRS roadmap laying out if and when U.S. public companies will be permitted – or required – to file with the SEC using International Financial Reporting Standards (IFRS) instead of U.S. Generally Accepted Accounting Principles (U.S. GAAP), we thought we’d provide, as promised, some highlights from roundtable held earlier this month.

We also have an update on FASB's proposal to amend the disclosures under FAS 5, Contingencies, and an update on COSO's Exposure Draft on Monitoring Internal Control Systems.

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FEI

FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at FEI

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