In this video series, PwC National Professional Services Group partners Wayne Carnall, David Schmid and Josh Paul discuss several key issues related to the 2012 SEC Staff's release of its final report on its IFRS work plan.
PwC Partner David Schmid discusses the importance of being financially bilingual - knowledgeable about both US GAAP and IFRS
PwC Partner David Schmid discusses the path of adoption of IFRS and where the US currently stands
A discussion around the role of the regulator and how that affects global adoption
What were the global ramifications of the SEC not taking any current action relative to incorporating IFRS?
How the IASB and the FASB are working together with the goal of creating quality standards
The ultimate purpose of the final SEC Staff report - what it told us and what it didn't tell us
IFRS is just as important now to many US companies as it was before the SEC Staff's IFRS work plan was completed