G20 Finance Ministers Urge FASB, IASB Converge Major Stds by Mid-2013 At the Latest

In the Final Communique issued on Friday at the close of the G20 Finance Ministers and Central Bank Governors meeting which took place at the IMF in Washington, DC, the group called upon the IASB and FASB to complete their major convergence standards by the boards' stated goal of mid-2013 'at the latest' - to achieve a single set of high quality accounting standards. How might this impact the SEC's upcoming decision on the use of IFRS in the U.S., and related FASB, IASB actions? Read more here [1].