VI. Request for Comment
The Commission has yet to make a decision as to whether and, if so, how, to incorporate
IFRS into the financial reporting system for U.S. issuers. This Staff Paper describes how
one possible incorporation approach could be used to incorporate IFRS into the financial
reporting system for U.S. issuers, if the Commission were to choose to do so. However,
the Staff acknowledges that this is not the only possible approach of incorporation. Other
possible methods of incorporation have been explored previously in much greater detail
(e.g., providing for optional use or specifying mandatory, date-certain incorporation).
Given the extensive discussion on these other alternatives and given the consideration by
the Commission as to whether or when IFRS may be incorporated into the U.S. financial
reporting system, the Staff is interested in constituents' views on the framework and any
other possible approaches of incorporation of IFRS, including views on those approaches
explored previously. Feedback can be provided through the SEC website by following
the link below.
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Feedback would be most helpful if received before July 31, 2011.
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http://www.sec.gov/cgi-bin/ruling-comments?ruling=4-600&rule_path=/comments/4-600&file_num=4-
600&action=Show_Form&title=Commission%20Statement%20in%20Support%20of%20Convergence%20and%20Global%20Accounting%20Standards
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Summary :
Given the extensive discussion on these other alternatives and given the consideration by the Commission as to whether or when IFRS may be incorporated into the U.S. financial reporting system, the Staff is interested in constituents' views on the framework and any other possible approaches of incorporation of IFRS, including views on those approaches explored previously.
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