US - Momentum fading for move to IFRS

Last year, Christopher Cox, then chairman of the Securities and Exchange Commission (SEC), unveiled a roadmap for the conversion to International Financial Reporting Standards (IFRS) in the United States. Since then, regulators and standard setters have considered recommendations from the SEC's Committee on Improvements to Financial Reporting, but the SEC has delayed addressing the more controversial ideas. (Read the article "Simplified Reporting: Forgotten in the Crisis?" at CFO.com.)