Executives from some of the Big Four accounting firms said a U.S. plan to shift to global accounting standards could face significant delays and that the process could become extremely politicized. The executives said discussions about the shift are at a crucial point. "The next six months are going to be defining," said James Quigley, CEO at Deloitte Touche Tohmatsu. "The key is what the [Securities and Exchange Commission's] position is going to be."

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