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Managing Expectations For US Adoption Of IFRS

Law360 (October 23, 2008, 12:00 AM EDT) -- On Aug. 27, 2008 the Securities and Exchange Commission voted to publish for public comment a proposed “Roadmap” that could lead to U.S. issuers being required to use International Financial Reporting Standards (IFRS) for SEC filed financial statements beginning in 2014.

The Roadmap establishes several milestones to be achieved by 2011, when the SEC will decide whether to move forward with implementation of IFRS for U.S. issuers, with the transition beginning in 2014.

IFRS are either permitted or mandated in many countries throughout the world, including...
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