FASB, IASB struggle to overcome differences amid SEC indecision on IFRS

12/5/2012 | JournalofAccountancy.com

International Accounting Standards Board Chairman Hans Hoogervorst again pushed for the Securities and Exchange Commission to adopt International Financial Reporting Standards during a speech Tuesday. On the same stage, Financial Accounting Standards Board Chairman Leslie Seidman said U.S. financial reporting needs clearer guidance than the IASB has offered. With convergence programs near an end, the future of cooperation between the world's most prominent standard setters is in question.

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