We support allowing US issuers to use IFRSs
14 Nov 2007
Deloitte has submitted a letter responding to the SEC's 25 July 2007 Concept Release, Allowing US Issuers to Prepare Financial Statements in Accordance With International Financial Reporting Standards. We strongly support the ultimate goal of having a single set of globally accepted accounting standards that all US issuers could use.
To that end, we believe that the SEC should develop a comprehensive plan to eventually transition all US issuers to IFRSs. We believe that in the interim, giving US issuers the option to use IFRSs in preparing their financial statements will facilitate movement toward a single set of standards. We support the SEC's permitting this option as soon as feasible, provided that there is sufficient time for preparers, auditors, and users to be educated and trained on IFRSs. Click for:
- Deloitte Letter to the SEC (PDF 71k)
- SEC Concept Release on Allowing US Issuers to Prepare Financial Statements in Accordance with IFRSs (PDF 571k).
- SEC Press Release (PDF 36k).
