The final report from US Securities and Exchange Commission
(SEC) staff on the country’s plans to adopt IFRS will not contain a
recommendation on if it should or not.

An SEC spokesperson told The Accountant that the final
staff report is expected to be used to evaluate recommendations on
the US moving towards IFRS, however the SEC has no time schedule,
at present, for the staff delivering a recommendation on its
consideration of adopting IFRS.

The SEC spokesperson confirmed the regulator currently has no
time frame on when it plans to make a decision on IFRS adoption,
which is a vastly different situation then thought.

The SEC was expected to make a decision in 2011, however it was
postponed to 2012 with no clear end in sight.

Former SEC chief accountant James Kroeker said in December last
year that the decision would only to be delayed by a ‘few months’
in order to finish its work plan and arrive at a decision. However,
Kroeker left the SEC earlier this month.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.