Previously, I posted a topic about whether the United States would adopt the international accounting standards (IFRS) since there have been numerous problems surrounding these issues. Just this week, the US SEC has approved for public comments its proposed “roadmap” for conversion to IFRS for public companies in the US. The proposal suggests US public companies begin reporting IFRS in 2014 (still six years from now), with full conversion to occur by 2016!
This decision of the US SEC is vital in the state of global economy at the moment. It is important for financial reporting language to be consistent all around the world to benefit investors and promote market efficiency as IFRS encourage more transparency. This will also increase comparability of companies from one country to the other.
It is interesting to note however that the US SEC approves this conversion in the middle of the credit crisis. Is this one of the responses of the US government to the recession?
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Wilson in pursuit of excellence
It’s still a long time. Many things could still happen before that. maybe another standard body…hehe
Or Global Warming could occur and we would all drown?
Or Russia could invade the Ukraine, setting off a chain of events which ends in a nuclear war and the destruction of the world
I am looking for some idea and stumble upon your posting
decide to wish you Thanks. Eugene
This Blog is very stupid… Why won’t the owner post any new material?
Is he retarded?
Yeah! I second the motion!
Mr. Wilson, maybe you were intimated by the advertisements I put up in your website. They’re gone now, except for the little one.
This website is like a barren field, frozen with snow….. A ghost town if you may….