[IMGCAP(1)]Is the time now right to use a financial reporting language that transcends national boundaries? This question continues to cause division in some countries, particularly in the United States.
Mary Jo White, chair of the Securities and Exchange Commission, recently put International Financial Reporting Standards back on the U.S. agenda in her remarks to the trustees of the Financial Accounting Standards Board’s oversight body, the Financial Accounting Foundation. When speaking about the 11,000 U.S. public companies and should they file with the SEC financial statements prepared in accordance with IFRS, White said, “I have made it a priority for the Commission to position itself to make a further statement on this very important subject and I hope to be able to say more in the relatively near future’. And now we see reports that Ms. White is considering appointing a former senior partner with Deloitte to the role of chief accountant, with a brief to consider whether to allow an option for U.S. companies to use IFRS.
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