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The Anti-IFRS Candidate
Posted by Tim Reason | | US
February 13, 2009 3:05 PM ET

We're not much given to publishing rumored appointments at, for the mostly self-interested reason that we'd often end up being wrong.

But I've been very politely nudged by our friend, accounting professor and blogger David Albrecht, to acknowledge that Bloomberg — echoed by the the NYSSCPA, among others — has reported that new SEC Chair Mary Schapiro is considering current PCAOB member Charles Niemeier as a candidate for SEC Chief Accountant.

That's a big deal because Niemeier is an outspoken critic of former SEC Chairman Christopher Cox's rush to IFRS and more or less the honorary Che Guevara of the anti-IFRS movement.

I contacted Niemeier, who was very gracious, but declined to comment.

I sat down with Niemeier at the CFO Rising West conference last October to talk about his concerns about IFRS — you can view that video interview here.

Listening to Niemeier talk leaves little doubt in my mind that his appointment would return the U.S. to a gradual reconciliation of IFRS and US GAAP that would likely take the better part of the next decade. Schapiro has already distanced herself from Cox's timetable, so there's a certain logic to the rumor.

IFRS aside, Niemeier served in the past as Chief Accountant in the SEC's Division of Enforcement, so his elevation to the top accounting spot would make sense, particularly given Schapiro's need to establish herself as a tough enforcer.

Comments (1)

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Posted by Jean Peyret | April 13, 2009 04:33am

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