Get ready to get serious about International Financial Reporting Standards: The Securities and Exchange Commission has proposed a plan that could let a select group of large U.S. companies start using the standards little more than one year from now, and require all domestic public companies to file statements using IFRS by 2016.
“The world should make no mistake: The SEC is serious about moving to IFRS,” Commissioner Elisse Walter declared.
While only a proposal, the roadmap delivers the clear signal about SEC thinking that the financial reporting community has wanted since last year. Even under the best of circumstances, shifting from ...