Financial reporting executives should settle in for a long debate about the wisdom of the United States adopting international accounting rules.

The Securities and Exchange Commission’s proposed roadmap to adopt IFRS, unveiled Nov. 14, generally follows the same timeline as the original idea floated by the Commission three months ago. The 165-page document also provides more detail on precisely how the SEC would phase in an IFRS requirement and seeks input on dozens of other questions.


Munter The proposing release “is consistent with what the commissioners said at the open meeting,” says Paul Munter, an audit partner with KPMG. But ...