Aug 28th 2008
By Edith Orenstein, FEI Financial Reporting Blog - The SEC voted on Aug. 27 to release for public comment a proposed IFRS Roadmap – outlining milestones that would form the basis of an SEC decision to be made by 2011 on whether to mandate the use of IFRS by public companies in their SEC filings beginning in 2014. As noted in SEC’s press release, there will be a sixty day comment period on the proposal. Additionally, the SEC also voted on a number of items impacting Foreign Private Issuers and cross-border business combinations, as noted in this SEC press release. Separately, FASB voted to propose for public comment its proposals on going concern and subsequent events. Read more about these SEC and FASB developments (and about decisions reached at FASB's Aug. 27 board meeting) here.