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US SEC may ease transition for first-time IFRS adopters

  • SEC (old) Image

09 Mar 2004

At its meeting on 11 March 2004, the US Securities and Exchange Commission will consider whether to propose amendments to Form 20-F that would allow an eligible foreign private issuer that adopts International Financial Reporting Standards as its basis of accounting for the first time for any financial year beginning no later than 1 January 2007 to file two years, rather than three years, of financial statements in a registration statement or annual report filed for the year in which it first adopts IFRS, with appropriate related disclosure.

In addition, the amendments would require all first-time adopters of IFRS to include certain information. Link to notice in SEC News Digest.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.