The staff of the Securities and Exchange Commission recently announced that it will hold public roundtables on July 7 on the potential benefits and challenges of incorporating International Financial Reporting Standards into financial reporting by U.S. issuers. The SEC has also published a related staff paper on a possible method of incorporation of IFRS. These are important developments regarding financial reporting.
But before discussing that news, I want to congratulate Sir David Tweedie, Warren McGregor, and Tatsumi Yamada on their retirement from the International Accounting Standards Board at the end of June. Tweedie, MacGregor, and Yamada, served with distinction for ...