Transition to IFRS extended To...

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Created on Monday, 05 April 2010 02:41

SEC extends time line for transition to IFRS

The Securities and Exchange Commission says the earliest that a U.S. company will be allowed to transition from GAAP to IFRS is now 2015.

The SEC has dropped the option from its 2008 proposed road map that would have allowed some large companies to use IFRS in their U.S. filings this year. The SEC also said that it will decide in 2011 whether to continue with this adjusted timetable.  Read more http://www.smartbrief.com/news/ifrs/storyDetails.jsp?issueid=FA1AA297-6D86-45CA-BCDE-830428C89295&copyid=D09C1F87-ED8D-43AC-B972-90BE59E8609C&brief=IFRS&sb_code=rss&&campaign=rss