SEC MAY LET FILERS CHOOSE STANDARDSWASHINGTON, D.C. - On the heels of its financial reporting roundtable last month, the Securities and Exchange Commission said that it may allow U.S. filers to choose which standards they want to use to report their financials.
This summer, the regulator will put forth a request for comment on proposed rule changes that would allow the use of International Financial Reporting Standards for reports filed by foreign issuers, in lieu of U.S. generally accepted accounting principles. The SEC also plans a release that would raise the possibility of providing U.S. companies a choice between GAAP and IFRS. Comments on both would be due in the fall.
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