Statement on U.S. SEC report on IFRS
16 Jul 2012
Commenting on the U.S. Securities and Exchange Commission’s report on incorporating IFRS into the financial reporting system for U.S. issuers., Chief Executive of the FRC Stephen Haddrill said,
“We have all followed the SEC’s work on determining whether, when and how to move to a system incorporating International Financial Reporting Standards for a long time. It is disappointing that transition is not yet clearly recommended. It is imperative that this is not allowed to affect the continued development of high quality global standards. Now that the era of convergence is coming to an end we urge the IASB to make the highest quality of the standards its principal objective.”
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