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IFRS Timetable Not on Time When will the SEC publish the timetable for switching from GAAP to international accounting standards?

Alix Stuart, CFO.com | US
September 25, 2008

Left out again: If we pass on IFRS, we will have company: after 2011, only we and Columbia will not be on IFRS. It will be like our being the only country other than Burma (Myanmar) not on the metric system. On a serious note, Congress needs to address the 1969 case of US v. Simon that reputedly lead to the demise of the APB (principles based) and the rise of the FASB (standards or rules based) in addition to LIFO to make IFRS feasible. Without Congressional action, IFRS will make the plaintiff's bar even more obscenely wealthy. You might ask which political party ignores the international community.; Posted by James Wall | Sep 25, 2008 6:41 PM ET