SEC Again Delays Move To Global Accounting Standards

Law360, New York (December 5, 2011, 5:04 PM EST) -- The U.S. Securities and Exchange Commission has again delayed a long-awaited recommendation on whether the U.S. should bring its accounting rules in line with international standards, the agency's head accountant said Monday.

During an industry conference in Washington, SEC chief accountant James Kroeker said the agency's staff would need a few more months to ready the report, but he declined to give a specific timetable.

In January 2010, the commission decided that it wanted to "encourage convergence" of the American generally accepted accounting principles and the...
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