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Financial Services Law Analysis and Updates for the Canadian and Cross-Border Financial Community

Category Archives: Accounting

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SEC Releases Statement Regarding Convergence of U.S. GAAP with IFRS Accounting Standards

Posted in Accounting, IFRS, Regulation

On February 24th, 2010, the U.S. Securities and Exchange Commission (SEC) released a “Statement in Support of Convergence and Global Accounting.” This is the first statement of the SEC considering the transition from U.S. GAAP to International Financial Reporting Standards (IFRS) since November of 2008.  In its statement, the SEC: supports the objective of financial reporting… Continue Reading