Mary Jo White, outgoing Chair of the US Securities and Exchange Commission (SEC), issued a public statement urging the SEC to continue to pursue high-quality, globally accepted accounting standards. Chair White believes that this is imperative for the protection of US investors and companies and the strength of the markets.
Chair White’s statement includes a discussion of the work the US Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have done on converging US generally accepted accounting principles (US GAAP) and International Financial Reporting Standards (IFRS), as well as other key activities undertaken in the pursuit of considering globally accepted accounting.
A copy of Chair White’s complete public statement is available from the SEC on this link.
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