SEC concept release on use of IFRS by US companies

The US Securities and Exchange Commission has published a Concept Release to obtain information about the extent and nature of the public’s interest in allowing US issuers to prepare financial statements in accordance with IFRS for purposes of complying with the rules and regulations of the Commission. US issuers presently use US GAAP. The release asks 35 questions on which the SEC requests comments by November 13, 2007.