September 17, 2021

Ratings Agency with Impeccable Track Record Attempting to Predict the Progress of U.S. IFRS Adoption

Once you suck at rating bonds enough, obviously the next logical step is to start predicting the progress made by a couple of rulemaking bodies who have a solid track record of stretching out a timeline to nowhere: 

Fitch Ratings expects the U.S. will still move forward with plans to incorporate International Financial Reporting Standards (IFRS) into U.S. GAAP, although in a prolonged, cautious and incremental way, according to a new report. Fitch believes a renewed emphasis on issuing converged, 'high quality' accounting standards and the need to re-expose updated proposals for comments has significantly slowed the completion of many accounting projects jointly initiated by FASB and the IASB. The major priority projects initially scheduled for a June 2011 completion are still at various stages of completion in 2012 and some will likely extend into 2013.
[via Fitch]

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