SEC Defers IFRS Decision Until 2011

March 1, 2010

The U.S. has taken another step closer toward converging its accounting standards with those adopted by the majority of the world. On Wednesday, the Securities and Exchange Commission unanimously approved a statement in support of efforts to converge U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) in order to narrow the differences between the two sets of standards.

The full article is available to Money Management Executive subscribers only

Already a print subscriber? As a print subscriber, you are entitled to online access. Please click here to activate your account.