Merging the iconic New York Stock Exchange with Germany’s Deutsche Boerse AG will force European companies to switch to using U.S. accounting rules which have superior disclosures, Mayor Michael Bloomberg said on Friday.” This will force a common set of accounting standards on the world; the American disclosures are better,” Bloomberg said on his weekly WOR radio show, though he admitted U.S. rules did not prevent Bernard Madoff from swindling billions of dollars through a Ponzi scheme. [Reuters]
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Anyone Who Gives a Rat’s Behind About IFRS Needs to Mark July 7 on Their Calendars
- Caleb Newquist
- April 21, 2011
‘Cause there’s gonna be a roundtable.
The Securities and Exchange Commission staff announced today that it will sponsor a roundtable in July to discuss benefits or challenges in potentially incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. issuers.
The July 7 event will feature three panels representing investors, smaller public companies, and regulators. The panel discussions will focus on topics such as investor understanding of IFRS and the impact on smaller public companies and on the regulatory environment of incorporating IFRS.
“We must carefully consider and deliberate whether incorporating IFRS into our financial reporting system is in the best interest of U.S. investors and markets,” said SEC Chief Accountant James Kroeker. “This roundtable will provide an excellent opportunity for investors, preparers, and regulators to provide the SEC staff with valuable information that will help the Commission in its ongoing consideration of incorporating IFRS.”
See you there. If you manage to recover from your July 4th meat sweats, that is.
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IASB Practically Begging the U.S. to Join Its New Accounting Standards Advisory Forum Now
- Caleb Newquist
- February 25, 2013
Back in November the IASB came up with the idea to start a new cool […]
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Here’s Proof That People in the U.S. Are Afraid of IFRS
- Caleb Newquist
- March 22, 2013
I could watch this all day. GIFSoup