The US Securities and Exchange Commission
(SEC) is to publish a work plan next month, following which the
regulator will consider the next steps to be taken in relation to
adopting IFRS.

SEC commissioner Elisse Walter, who addressed
the issue during a recent speech at the Financial Accounting
Foundation’s 2012 Annual Board of Trustees dinner, did not specify
what the “next steps” would be but stressed her personal view was
that the Financial Accounting Standard Board (FASB) should
determine to endorse newly issued IFRS standards, following an
appropriate consideration of the US perspective by the
International Accounting Standards Board (IASB).

“It is critical that the FASB and the IASB
continue to make satisfactory progress on the major convergence
projects,” Walter said.  

The commissioner then added a robust IFRS
interpretive process and a coordinated application and enforcement
of IFRS will “continue to be essential to provide investors with
high quality information”.