The International Accounting Standards Board wants the US to remain committed to its roadmap for moving to International Financial Reporting Standards and is making the case directly to the new SEC chairman, WebCPA reported.
IASB Chairman David Tweedie met with the new chair of the Securities and Exchange Commission, Mary Schapiro earlier this week, said WebCPA.
However, in her confirmation hearing last month Schapiro said that she would not "feel bound" by the roadmap, adding that she had some concerns about 'IFRS standards generally,' according to WebCPA.
She also criticized the IASB in a follow-up letter to Congress, saying that she 'is not prepared to delegate standard-setting or oversight responsibility to the IASB,' according to WebCPA.
However, the IASB has been continuing work with the US Financial Accounting Standards Board on various convergence projects, including work on off-balance-sheet accounting.
IASB Chairman David Tweedie met with the new chair of the Securities and Exchange Commission, Mary Schapiro earlier this week.
However, in her confirmation hearing last month Schapiro said that she would not "feel bound" by the roadmap, adding that she had some concerns about 'IFRS standards generally,' according to A.
She also criticized the IASB in a follow-up letter to Congress, saying that she 'is not prepared to delegate standard-setting or oversight responsibility to the IASB,' according to WebCPA.
However, the IASB has been continuing work with the US Financial Accounting Standards Board on various convergence projects, including work on off-balance-sheet accounting.