SEC Moves To Encourage Use Of International Financial Reporting Standards In Financial Filings
Kelley Drye Client Advisory
Kelley Drye’s Securities and Capital Markets Practice Group has prepared a client advisory titled, “SEC Moves To Encourage Use Of International Financial Reporting Standards In Financial Filings.”
On August 27, 2008, the Securities and Exchange Commission (SEC) announced a proposal that, if approved, would allow U.S. public companies to include in their SEC filings financial statements prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board in London. This proposal is just the latest development in an ongoing effort by the SEC to accommodate companies that use IFRS in their financial reporting.