Talk turns to international “convergence.”
States are apparently resisting the move to a globally-mandated set of accounting rules for fear of ceding authority to foreign regulators. And, since Obama appointees clearly have more urgent work to do, IFRS will probably be back-burnered for now. So the question is: Is IFRS dead? Should it be?
The NASBA news release:
NASHVILLE, Tenn., Feb. 19 /PRNewswire-USNewswire/ — Moving to convergence with, rather than adoption of, International Financial Reporting Standards (IFRS) is the right path for the Securities and Exchange Commission to be following, the National Association of State Boards of Accountancy has told the SEC.
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