Nobody said it would be easy, but bumps in the road along the way to possible U.S. adoption of International Financial Reporting Standards are popping up more and more often, and in some unlikely places.
Regulators got a reminder of the many barriers to implementation of IFRS in the United States last month, when the Securities and Exchange Commission conceded that foreign private issuers that file financial statements based on IFRS couldn't be expected to meet a June deadline for submitting statements using the XBRL filing technology. Why not? Because the SEC hasn't yet approved an XBRL taxonomy that IFRS ...