The path forward for international standards in the United States: Considering possible alternatives
Point of view
- The SEC has stated it plans to make a determination on the future use of international standards by US public companies in 2011.
- Full acceptance or complete rejection of a move to international standards in the US seems increasingly unlikely. A compromise solution will likely be necessary.
- Completion of the current convergence agenda, enhanced cooperation among key capital market securities regulators and a refocused international interpretations body will provide a more solid foundation for a single set of high-quality global accounting standards.