SEC Delays IFRS Decision By 'A Few Additional Months"

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The SEC's Chief Accountant, Jim Kroeker, told an AICPA conference on Dec. 5, 2011 that the SEC staff's report on International Financial Reporting Standards, completing the SEC Staff's Work Plan requested by the Commissioners to inform their decision on whether to permit or require public companies to report to the Commission using IFRS instead of U.S. Generally Accepted Accounting Principles, will take 'a few additional months."

The remaining SEC staff report on IFRS, referenced by Kroeker, is the third in a series of reports that were anticipated for issuance, noted by Kroeker at FEI's Current Financial Reporting Issues Conference in November, The first two of those reports were recently issued, as noted in this FEI Summary.

Read more of what Kroeker said about IFRS, highlights from FASB Chairman Leslie Seidman's speech at the AICPA conference, and other topics covered in SEC staff speeches at the conference, here.

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