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Editorial: How I Learned To Take IFRS Seriously, And Why You Should Too

Scott S. Cohen | September 1, 2007

I got scolded by the SEC’s John White once. Seriously: I got a verbal slapdown from a regulator—and I think I deserved it.

The incident occurred in May of this year. White, who is the director of the Division of Corporation Finance at the Securities and Exchange Commission, had agreed to deliver the opening keynote address at our annual conference. We were right in the middle of a pre-conference planning call, during which we were discussing the topics to be addressed in his speech.

At the top of my list for his opening comments: internal control over financial reporting. The SEC was set to unveil its guidance for management literally days before the event, and I was insistent that White spend the majority of his keynote address discussing the guidance. The...

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