Convergence & Reporting
SEC Staff Issues "Final Report," But IFRS Decision Still to Come
On July 13, the staff of the U.S. Securities and Exchange Commission (SEC) issued its final report on the agency’s work plan in relation to International Financial Reporting Standards (IFRS). Although the 127-page report provides analysis of six key areas, what may be most notable is that it doesn’t make a recommendation as to what the SEC’s decision should be regarding incorporating IFRS into the financial reporting system for U.S. issuers.
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