SEC publishes paper on IFRS incorporation, calls for comments

05/27/2011 | JournalofAccountancy.com

The Securities and Exchange Commission's Office of the Chief Accountant issued a paper describing a possible approach to incorporating International Financial Reporting Standards into the U.S. financial reporting system. The SEC also called for comments, noting that the staff paper "is not intended to suggest that the Commission has determined to incorporate IFRS or that the discussed framework is the preferred approach or would be the only possible approach."

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