SEC chief accountant: IFRS requirement unlikely in short term

06/2/2013 | JournalofAccountancy.com · Compliance Week

Securities and Exchange Commission Chief Accountant Paul Beswick told the attendees at a financial-reporting conference that convergence of international accounting standards is important to the SEC but that IFRS adoption is unlikely in the short term because of competing agency priorities. Speaking at the 12th annual Baruch College financial-reporting conference in New York City, Beswick cited "change fatigue" as another barrier, saying that financial-statement preparers are already contending with a number of standards changes issued by the Financial Accounting Standards Board.

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JournalofAccountancy.com · Compliance Week