As the profession prepares for the transition to adoptingInternational Financial Reporting Standards, the Center for Audit Quality hasfired off a letter to the Securities and Exchange Commission offering a seriesof recommendations to improve the regulator's proposed IFRS roadmap.
As a result, the group recommended that the SEC provide afirm mandatory adoption date because the lack of a firm date discouragesfinancial reporting stakeholders from undertaking preparations for thetransition to IFRS, threatening the viability of that timeline.
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