The foot-dragging by the SEC over IFRS is a sight to behold. At some point in time – the Triassic Period, or thereabouts – the G20 requested "key global accounting standards bodies [to] work intensively toward the objective of creating a single high-quality global standard." And yet on Friday, the SEC served up a steaming pile of jack squat much to the chagrin of IFRS enthusiasts everywhere. Somehow, someway, the SEC has managed to eloquently avoid making a decision on the matter. It's really quite an impressive feat of international politicking.
Well, the Europeans have HAD IT. Up until now, they've mostly been nice about things but this latest non-response response has really gotten their knickers in a twist, so much so that European Commission flacks are starting to chime in:
"The lack of a clear vision from the U.S. creates uncertainty and hampers the IFRS from becoming a truly global accounting language," said [European Commission spokesman Stefaan] De Rynck, who speaks on behalf of Michel Barnier, the EU commissioner responsible for financial services. "It is also becoming more difficult to justify the representation of jurisdictions not applying IFRS in the IASB governance framework," he added in remarks seen as taking a swipe at the United States.
If anyone over the SEC needs a little help getting their heads around how to best get on board with IFRS, 
A recommendation on whether U.S. companies should switch to international accounting rules will take a few more months, the Securities and Exchange Commission’s chief accountant said Monday. The SEC’s staff had been expected to make a recommendation by year-end on whether U.S. companies should adopt the global rules, known as International Financial Reporting Standards. But the staff needs “a few additional months” to complete its work, SEC Chief Accountant James Kroeker said. [