Future of International Standards and Cooperation In Light of the Credit Crisis

On November 18, 2008, Chairman Christopher Cox of the US Securities and Exchange Commission spoke at the FEI 2008 Current Financial Reporting Issues Conference in New York. His address dealt with The Future of International Standards and Cooperation In Light of the Credit Crisis. He stressed that "In order for IFRS to fulfill the promise it holds to be a uniter of the world's capital markets and a powerful tool for investors everywhere, there are a handful of principles that are critical to its success. Every one of us here today needs to see to it that these principles are applied."