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IASB Chairman discusses the future of financial reporting

  • Sir David Tweedie (50x35) Image

10 Mar 2011

In a speech to the US Chamber of Commerce, IASB Chairman Sir David Tweedie discussed his vision for the future of financial reporting, which "includes IFRSs as the common basis of financial reporting for listed companies throughout the world, including the United States".

He also stated the need for the US to continue to work towards adoption of IFRSs by stating the following:

We all know that there cannot be a global system without US acceptance of IFRSs. This is an objective that I have been fully committed to over the past ten years.

I would like to make the case today on the pressing need for the United States to commit itself this year to a clear, defined, and workable timetable for the incorporation and use of IFRSs, as published by the IASB.

Click for the full text of Sir David Tweedie's speech (link to IASB website).

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