Comments on: SEC says IFRS still on hold http://www.fasri.net/index.php/2010/02/sec-says-ifrs-still-on-hold/ Just another WordPress weblog Mon, 06 Feb 2012 18:32:42 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Scott Taub http://www.fasri.net/index.php/2010/02/sec-says-ifrs-still-on-hold/comment-page-1/#comment-6696 Scott Taub Mon, 15 Mar 2010 16:58:26 +0000 http://fasri.net/?p=2256#comment-6696 There are certain IASB constituencies and perhaps even individual board members and trustees that may not be as "gung ho" on convergence, but by-and-large, support in London is as strong as in Norwalk, and perhaps stronger. I wouldn't have characterized the SEC announcement as "punting". They never even hinted that they'd make a decision in 2010 -- the "proposed roadmap" said decision in 2011. The update still holds out the potential of a 2011 decision, so there's no change there. What did change is that the decision date is now linked to completion of the convergence projects. If those are not largely completed by mid-2011, as the official schedule suggest they will be, the SEC will be able to point to that linkage as a reason to delay the decision. There are certain IASB constituencies and perhaps even individual board members and trustees that may not be as “gung ho” on convergence, but by-and-large, support in London is as strong as in Norwalk, and perhaps stronger.

I wouldn’t have characterized the SEC announcement as “punting”. They never even hinted that they’d make a decision in 2010 — the “proposed roadmap” said decision in 2011. The update still holds out the potential of a 2011 decision, so there’s no change there.

What did change is that the decision date is now linked to completion of the convergence projects. If those are not largely completed by mid-2011, as the official schedule suggest they will be, the SEC will be able to point to that linkage as a reason to delay the decision.

]]> By: Lisa Koonce http://www.fasri.net/index.php/2010/02/sec-says-ifrs-still-on-hold/comment-page-1/#comment-6221 Lisa Koonce Wed, 24 Feb 2010 20:21:18 +0000 http://fasri.net/?p=2256#comment-6221 I think i saw something the other day saying the IASB was not as gung ho on convergence. Did anybody else read this? I think i saw something the other day saying the IASB was not as gung ho on convergence. Did anybody else read this?

]]>