Monday, July 28, 2008

IFRS The SEC Road Map

SEC Chief Accountant Conrad Hewitt, in an interview published today in WebCPA.com, written by Liz Gold, Associate Editor, AccountingToday, said a proposal relating to the SEC’s International Financial Reporting Standards (IFRS) roadmap will be out “sometime before September 21.”
The WebCPA.com article can be found at:
http://www.webcpa.com/article.cfm?articleid=28514&searchTerm=Liz%20Gold&page=1

The SEC plans to hold a Roundtable on August 4 (next Monday).It will deal with the performance of US GAAP and IFRS during the "Subprime" Crisis.
This roundtable will provide the Commission with valuable insights from investors, issuers, auditors, and others about the way that both IFRS and U.S. GAAP performed in the context of the current pressures on the marketplace," said SEC Chairman Christopher Cox. "We are particularly interested in how the two sets of standards dealt with the key accounting issues in the subprime crisis, including off-balance sheet entities and fair value."
See full press release at http://www.sec.gov/news/press/2008/2008-150.htm

Thanks to the FEI blog for the heads up on this. Seehttp://www2.financialexecutives.org/blog/blog.cfm?blog_id=1#20080728034235

1 comment:

Edith Orenstein said...

Darla, thanks for your cite and comment on our related post today in FEI Financial Reporting Blog.