7/7/2011

The U.S. could make a gradual change to International Financial Reporting Standards over the course of several years, according to a staff paper on convergence from the Securities and Exchange Commission. The framework outlined in the paper includes an endorsement process where IFRS would be incorporated into U.S. Generally Accepted Accounting Principles over a defined period of time. The paper could signal growing support for the transition among the agency's staff.

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