IFRS convergence languishing in U.S.

05/19/2014 | Bloomberg BNA (free content)

U.S. adoption of International Financial Reporting Standards was seen as a given in 2008, but convergence has hit a rocky road, this blogger writes. While Securities and Exchange Commission Chairman Mary Jo White has said that adopting IFRS is a priority, the SEC's chief accountant, Paul Beswick, has called the process a "steep learning curve" for people in the agency without an accounting background.

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