FASB Gives Cautious Response to IFRS Roadmap

The US Financial Accounting Standards Board (FASB) and its parent organization, the Financial Accounting Foundation (FAF), recently sent a comment letter to the Securities and Exchange Commission (SEC) giving a thumbs-up to the proposed roadmap to International Financial Reporting Standards (IFRS), but they urged more consultation and study. (Read the FAF/FASB Comment Letter and the WebCPA article.)