Top SEC Accountant Calls for Allowing Supplemental IFRS Use in US

By:
Chris Gaetano
Published Date:
Nov 18, 2015
SECURITIES-AND-EXCHANGE-COMMISSION-facebookSEC Chief Accountant James Schnurr has recommended that public companies in the U.S. be allowed to supplement their GAAP financial information with International Financial Reporting Standards if they so choose, according to the Wall Street Journal. He said he sees allowing companies to report some information using the international standards to be a middle ground between full adoption and freezing them out entirely, and so made this recommendation to SEC Chair Mary Jo White, said the Journal. The idea is still being reviewed, and it is currently unknown when or even whether it will be made into a formal proposal, said the Journal.  

Click here to see more of the latest news from the NYSSCPA.