The release requests public comment on the standards issued by the International Accounting Standards Committee and raises questions regarding what supporting infrastructure is necessary in an environment where issuers and auditors are often multinationals providing data in many countries.
The SEC is seeking feedback on what importance concerns would be raised by acceptance of IASC standards and then asks for comment on whether the commission should modify its current requirement for all financial statements to be reconciled to US GAAP.
This marks the first concrete move since agreement was reached late last year to form a worldwide accounting standards body that could form standards that could be used across the globe.
The SEC has given a 90-day comment period for respondents to share their first-hand knowledge of using IASC standards and any experience of auditing the application of such standards.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel