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Start Your IFRS Engines?

In the wake of last week's meeting of U.S. and international accounting standard setters, the SEC's Mary Schapiro gives a nod to the rulemakers' convergence efforts.

November 6, 2009

A 40-word statement by Securities and Exchange Commission chairman Mary Schapiro Thursday night, after U.S. and international accounting rulemakers reaffirmed their commitment to creating a single set of principles, didn't say much on its face. The innocuous two sentences read: "I am greatly encouraged by the commitment of the IASB and the FASB to provide greater transparency to the standard setting process and their convergence efforts. I believe that these efforts will result in improved financial information provided to investors." Read more...

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