Eager to ensure a smooth transition to International Financial Reporting Standards by U.S. public companies, International Accounting Standards Board Chairman Sir David Tweedie had what was described as an amicable meeting with Mary Schapiro, the new chairwoman of the U.S. Securities and Exchange Commission. The SEC chief has said she will not "feel bound" to follow the schedule previously adopted by the SEC for implementation of IFRS in the U.S.

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