The SEC holds two roundtables on IFRSs
19 Dec 2007
On 13 and 17 December 2007, the SEC hosted two roundtable discussions on the potential use of IFRSs in the United States.
The roundtables were in response to:
- the SEC's recent issuance of a Concept Release soliciting input on whether US issuers should be permitted to use IFRSs in preparing their financial statements, and
- the SEC's recent decision to Eliminate the US GAAP Reconciliation Requirement for foreign private issuers using IFRSs.
The roundtable participants comprised various constituents, including financial intermediaries, investors, and issuers. The roundtables addressed the effect of giving US issuers the choice of using IFRSs or US GAAP on the capital markets and on competition. Practical issues concerning the possible use of IFRSs by US issuers and the impact on investor protection also were addressed. Issues were addressed from both the US market's perspective and the global perspective.
The 18 December 2007 edition of the Heads Up Newsletter (PDF 114k) from Deloitte & Touche LLP (United States) has the details.
