A Reprieve in the Shift to IFRS
On March 3, 2010, the SEC unanimously approved a timeline for mandating use of IFRS (International Financial Reporting Standards) by U.S. public companies. For years, U.S. companies have followed Generally Accepted Accounting Principles (GAAP). However, in 2007, the SEC set forth to move toward IFRS in an effort to operate by a high-quality, global set of accounting standards.
Initial goals of the SEC... Read More