Comments Due End Of July On SEC Staff Paper On IFRS 'Condorsement,' PwC
July 18, 2011
FEI Summary

As a reminder (see FEI's May 27 summary), there is a July 31 deadline for comment on the U.S. Securities and Exchange Commission's Staff Paper on the Incorporation of International Financial Reporting Standards into the Financial Reporting System for U.S. Issuers.

The SEC staff paper, published on May 27, seeks comment on a proposed framework informally referred to as a "condorsement" approach, a term first coined by SEC Deputy Chief Accountant Paul Beswick in a December, 2010 speech), in which the U.S. Financial Accounting Standards Board would have an ongoing role in endorsing International Financial Reporting Standards for adoption in the U.S. 

Read more in this PwC In Brief: SEC Staff Paper Explores One Possible Method to Incorporate IFRS in the U.S.