Transcription of IFRS compared to US GAAP: An overview - home.kpmg
{{id}} {{{paragraph}}}
Example: barber
IFRS compared to US GAAP: An overview - home.kpmg
IFRS compared to US GAAPAn overviewDecember SEC s next moveThe IASB and the FASB have publicly stated that convergence, as a strategy for achieving a single set of high-quality global accounting standards, will come to an end when they publish their partially converged leasing standards and the FASB publishes its standards on financial instruments (classification and measurement, and impairment). At that point, the Boards will enter a new phase of co-operation. Exactly how or whether this new phase will move IFRS and US GAAP closer together is yet to be seen. From a US policy perspective, the SEC continues to maintain its commitment to a long-term objective of a single set of high-quality global standards. But it is unclear what the next steps might be for the adoption of IFRS by US domestic registrants or when further action might be taken. In the meantime, the members of the IFRS Foundation s Monitoring Board, including the SEC, are scheduled for review in 2016 to determine whether they continue to qualify for membership on the Monitoring Board.
The SEC’s next move. The IASB and the FASB have publicly stated that convergence, as a strategy for achieving a single set of high-quality global accounting standards, will come to an end when they publish their partially converged
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: