World Awaits U.S. Action on Accounting Standards

SEC Delays on IFRS Adoption Stoke Uncertainty

September 28, 2009

When the Roman Empire was first expanding, regulators noticed an annoying problem: Due to increasing traffic, chariots were leaving grooves in the stone roads, but the gauge - the distance between the wheels - varied according to region. Different sized chariots didn't fit in the grooves. Julius Caesar had a solution: international standardization. Regulators around the world are again trying to establish a new international standard, this time for financial accounting rules.

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.