Condorsement has befuddled TS – God knows what convergence will look like
TS HAS BEEN BUSY of late, frantically leafing through our dictionary in search of a definition for that curious word, condorsement. Far be it for us to trundle out a tired moan about Americans mangling the English language, but, well, really!
Condorsement was coined by US regulator the SEC as a convenient bridge between convergence and endorsement, two of the options currently on the table for the US move to international financial reporting standards.
With such complicated letter shuffling going on just for a discussion about the move to IFRS, TS hates to think how convoluted the actual switch will be. We’re sure the Yanks can manage it though, don’t misunderestimate us.