The U.S. Securities and Exchange Commission unveiled a cautious approach on international accounting rules in the latest sign that it's abandoned a plan to urge companies to switch to global regulations.
While businesses will be required to report financial results using U.S. rules, the SEC is considering letting companies also disclose how much money they earn or lose under international standards, SEC Chief Accountant James Schnurr said in a speech today.
The comments show the SEC isn't committed to a 2008 proposal that laid out a road map over many years for companies to change how they disclose financial data. At the time, the SEC said a single set of global standards would cut compliance costs and make U.S. companies more competitive. The plan drew criticism from investors and some businesses.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
