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SEC on IFRS: Not So Fast

The SEC gives everyone more time for a possible transition from U.S. GAAP to international reporting standards.

February 26, 2010

The Securities and Exchange Commission has extended its time line for requiring U.S. publicly traded companies to apply international financial reporting standards to their financial statements: the earliest that U.S. companies may be able to use IFRS is now 2015. The deadline in the SEC's original "roadmap" was 2014, although some large companies could have prepared their U.S. filings with IFRS this year (that option has been discarded). Read more...

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