Financial Accounting Standards Board chairman Leslie Seidman and International Accounting Standards Board chairman Hans Hoogervorst appeared side by side at an AICPA conference Tuesday in a joint appearance to discuss what went awry in U.S. support for International Financial Reporting Standards.
The Securities and Exchange Commission has yet to make a decision on whether to allow U.S.-based companies to file their financial reports in accordance with IFRS, even though the FASB and the IASB are nearing the end of their 10-year convergence efforts to harmonize U.S. GAAP with IFRS.
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