International standards must benefit investors, Schapiro says

05/29/2011 | Accounting Today

The Financial Accounting Standards Board and the International Accounting Standards Board won praise from Securities and Exchange Commission Chairman Mary Schapiro for their work to converge U.S. and international accounting rules. However, Schapiro did not indicate whether the SEC plans to mandate the use of international standards for U.S. companies. The most important factor is ensuring that investors are confident in the information they receive from accountants, she said.

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