US - What exactly is going on with IFRS?

The debate on IFRS in the US is still unfolding. In one camp, there are those who are disenchanted with it and, in another, those who can gain monetarily. But the two camps do agree on one thing, that the SEC is moving too slowly on clarifying its long-term intentions. (Read the article IFRS: dead in the USA? in the April 2010 issue of CAmagazine online.)