The timeline for adoption of International Financial Reporting Standards in the United States faces several hurdles, including the long-delayed appointment of several SEC commissioners.

That hurdle may be overcome soon, now that the Senate Finance Committee has finally held hearings on the three nominees who have been appointed to replace the missing members of the five-person commission. Those hearings took place only last week, but it's unlikely the SEC will set a definite date for the roadmap to IFRS from generally accepted accounting principles until those members are in place.

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