SEC to Spotlight IFRS Progress and Accept Feedback on Website

Submitted by Melissa Hoffmann on Thu, 04/29/2010 - 14:18

You heard it here first! Securities and Exchange Commission (SEC) Deputy Chief Accountant Paul A. Beswick told a group of CPAs at the Robert Zicklin Center for Corporate Integrity's annual Financial Reporting Conference today that the commission will soon announce a new spotlight page on its website devoted to the IFRS convergence process.

In addition to updates on the SEC's IFRS workplan, the page will be used "to request comment in specific areas," Beswick said. It will also include a feature that will allow users to pass along any comments that would be of interest to SEC staff, he said.

Beswick said he expected to make a formal announcement regarding the new webpage later today or tomorrow.

Many of the speakers at the conference -- including Financial Accounting Standards Board Chair Robert H. Herz and SEC Chief Accountant James Kroeker -- took the opportunity to promote IFRS efforts and restate a commitment to convergence.

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