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GAAP.RUNewsSEC Votes on Work Plan for Incorporating IFRS

SEC Votes on Work Plan for Incorporating IFRS

Author: Michael Cohn

Publication date: 25 February 2010

The Securities and Exchange Commission voted unanimously to issue a statement affirming support for a single set of high-quality globally accepted accounting standards and ongoing consideration of incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

The Securities and Exchange Commission voted unanimously to issue a statement affirming support for a single set of high-quality globally accepted accounting standards and ongoing consideration of incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. issuers (currently applying U.S. GAAP).