The head of the International Accounting Standards Board is calling on the U.S. Securities and Exchange Commission to make up its mind about adopting International Financial Reporting Standards and to play a greater role in converging world accounting systems into a single, strong set of rules.
Sir David Tweedie, chairman of IASB, speaking to reporters during a financial-reporting conference in New York last week sponsored by Deloitte, said IASB and the U.S. Financial Accounting Standards Board are making strides to converge IFRS and U.S. Generally Accepted Accounting Principles. Still, he added, “An important goal for us is to get the United States more actively involved in this. We are working with FASB, but we do really need a strong U.S. presence globally in international standards.”
