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SEC to Consider Staff Proposal on IFRS

Tammy Whitehouse | December 9, 2015

The Securities and Exchange Commission is considering a recommendation to amend its rules in a way that would provide U.S. companies with an option to provide financial information under International Financial Reporting Standards.

Schnurr-james-1214-updatedSpeaking at the annual national conference of the American Institute of Certified Public Accountants on accounting and auditing issues, SEC Chief Accountant Jim Schnurr said the staff will be discussing with the full commission “certain regulatory changes that would facilitate the ability of domestic issuers to provide IFRS-based information as a supplement to U.S. GAAP financial statements.” Current rules would treat such information as non-GAAP, which requires reconciliation,...

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