2007-11-23 SEC Takes Action to Improve Consistency of Disclosure to US Investors in Foreign Companies

The SEC has announced approval of rule amendments under which financial statements from foreign private issuers in the US will be accepted without reconciliation to US Generally Accepted Accounting Principles if they are prepared using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. The amendments are expected to apply to financial statements covering years ended after November 15, 2007. A copy of the SEC announcement is reproduced below.

SEC Takes Action to Improve Consistency of Disclosure to US Investors in Foreign Companies (31.3 KB) Download the full PDF report.