SEC staff comments on dropping IFRS-US GAAP reconciliation
26 Nov 2007
As we reported in our News Story of 16 Nov 2007, on 15 November 2007 the US Securities and Exchange Commission approved a proposal that foreign companies may submit financial statements to the Commission using IFRSs as adopted by the IASB without having to include a reconciliation of the IFRS data to US GAAP.
The SEC has made available the remarks of three staff that were made at the meeting recommending that the Commission approve the proposal:
- Conrad Hewitt, Chief Accountant (PDF 35k)
- Katrina A Kimpel, Office of Chief Accountant (PDF 36k)
- Michael D Coco, Office of International Corporate Finance (PDF 40k)
