Tuesday, September 22, 2009

US - SEC wants to speed transition to IFRS

The Securities and Exchange Commission (SEC) in the United States is planning to help companies make a rapid transition to International Financial Reporting Standards (IFRS). The need for IFRS is generally agreed to by most companies but they are concerned about how to make the transition. The SEC is going to refocus on the "roadmap" for IFRS that it has prepared in order to help companies make the change. (Read the articles “Global Standards Alive and Kicking, SEC Accounting Chief Says” at CFO.com and “SEC to refocus on IFRS roadmap –official” at Reuters.com.)