SEC Chief Accountant James Schnurr said he has reconsidered the possibility of allowing companies to present some information in IFRS without reconciliation with GAAP, saying there is a general lack of support in the U.S. for the international standards in general, said Accounting Today. He said that, after posing the question in December, stakeholders wondered why a company would want to supplement their information with IFRS-based information at all, and what sort of benefit that might provide. Further, he said the staff found there to be be virtually no support for the SEC to mandate using IFRS, and little support to allow financial statements to be prepared using IFRS, said Accounting Today, though he added that there was still support for the general principle of a single set of high-quality, globally accepted accounting standards. 

He said that, as he promised when he first was appointed last year, he still plans to issue a recommendation on IFRS to the chair in the near future, though he did not offer specifics as to when, said Accounting Today.