The American Institute of CPAs and other organizatons expressed their support for the Securities and Exchange Commission's proposed roadmap for moving to international accounting standards.
The Securities and Exchange Commission laid out a proposed roadmap for companies to file financial statements according to International Financial Reporting Standards by 2014 (see SEC Proposes IFRS Roadmap). Companies that are among the top 20 in their industry according to market capitalization would be able to begin filing statements in IFRS for fiscal periods ending after Dec. 15, 2009.
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