ICAEW urges SEC to move quickly on IFRS

The global financial crisis has demonstrated the need for global accounting rules, according to a recent submission to the United States Securities and Exchange Commission (SEC) by the Institute of Chartered Accountants in England and Wales (ICAEW), Europe's largest professional accountancy body. The ICAEW stresses that the SEC should press forward with implementation of International Financial Reporting Standards (IFRS) to minimize uncertainty by US businesses. (Read the article online at Accountancy Age.)