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IASB responds to SEC warning over XBRL taxonomy

  • SEC (US Securities and Exchange Commission) (dark gray) Image
  • XBRL (eXtensible Business Reporting Language) (mid blue) Image

30 Mar 2011

Hans Hoogervorst, incoming Chairman of the IASB, has responded to a warning from Mike Starr, SEC Deputy Chief Accountant, that the SEC would continue to refuse to allow company filings under IFRS to use XBRL.

Starr told a conference that 'there is still concern about the adequacy of IFRS taxonomy'. Hoogervorst said that further proposals in April would extend the scope of the taxonomy. "I am hopeful we can address the problems the SEC is seeing and hopefully the use of IFRS taxonomy can be allowed. A lot of these problems will be solved", he said.

Correction list for hyphenation

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