SEC to discuss eliminating reconciliation

The US Securities and Exchange Commission (SEC) has scheduled an Open Meeting on Wednesday, June 20, 2007 in Washington, D.C. to consider whether to propose amendments to accept financial statements prepared in accordance with International Financial Reporting Standards (IFRS) as published by the International Accounting Standards Board without reconciliation to generally accepted accounting principles as used in the United States when contained in the filings of foreign private issuers with the Commission (view the announcement).