The Accountingweb site published reactions to the proposed SEC Roadmap.
Please go to
http://www.accountingweb.com/cgi-bin/item.cgi?id=105851
Thursday, August 28, 2008
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- The IFRS Exorcist ©
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2 comments:
We are still awaiting th publication of the details from the SEC
Although you are focused on the Canadian IFRS impact, I have been watching the pending U.S. transition to IFRS. I was part of an implementation in 2005 being part of a French company. With the insight that we received, and following the subsequent updates, I have a hard time believing that the U.S. will simply adopt these new standards and allow GAAP to go away, as some are suggesting. Most of the significant changes in GAAP have come about from crisis-type situations that have necessitated increased rules. Now we're going to abandon those and move back to principles based accounting? Why do I have a hard time believing this?
I'd love to hear your feedback.
Thank you.
Jeff
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