STOP PRESS: FEI USA FORMS IFRS ROUNDTABLE

Today the FEI in the US announced plans to form a Corporate Roundtable on International Financial Reporting (CRIFR) See the Press Release at http://fei.mediaroom.com/index.php?s=43&item=207

The following is a quote from the FEI in the USA:


Financial Executives International (FEI), the preeminent association for financial executives, today announced the formation of a new national coalition, the Corporate Roundtable on International Financial Reporting (CRIFR). The coalition will provide a forum for companies of all sizes and funding models to discuss all business issues related to the promulgation, implementation and convergence of International Financial Reporting Standards (IFRS) by U.S. companies.
Formally unveiled at today's FEI 2008 Global Financial Reporting Convergence Conference in New York City, the goal of CRIFR will be to facilitate dialogue on a broad range of issues surrounding IFRS, including (but not limited to) implementation and transition issues related to systems requirements, training, standards setting and reporting.


There is more discussion of the USA FEI plans in their blog at

http://www2.financialexecutives.org/messageboard/message.cfm?topic_id=593&board_id=5


Very clearly the Americans are taking a very serious interest in adopting IFRS. We in Canada will be under the microscope and we will no doubt have many useful experiences to relate to our American cousins. The Americans will be watching us closely. Will there be a coming great demand for Canadian accountants with IFRS experience - time will tell.

The game is a foot indeed.

We look forward to the FASB conference on June 16. I will report on it in this blog.