The US Securities and Exchange Commission
(SEC) has identified three topics for further study as part of its
work towards deciding whether the US will adopt IFRS.

The SEC is now seeking public comment on the
three topics, which are:

  • US investors’ current knowledge of IFRS and
    their preparedness for incorporation of IFRS into the financial
    reporting system for US issuers;
  • How investors educate themselves on changes
    in accounting standards and the timeliness of such education;
  • The extent of logistics for and estimated
    time necessary to undertake changes to improve investor
    understanding of IFRS and the related education process to ensure
    investors have a sufficient understanding of IFRS prior to
    potential incorporation.

The deadline for comments is 11 October.

The SEC is due to decide in 2011 whether the
US will adopt IFRS.


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