Resources for Sarbanes-Oxley (SOX)

SEC Moves to Adopt International Accounting Standards

www.amateureconomists.com

The recent securities pact between the United States Securities and Exchange Commission (SEC) and the Australian Securities and Investment Commission is seen as a step towards the SEC’s goal of globalizing investing. In another step towards achieving this goal, the SEC has now floated a plan that could require U.S. companies to switch to international accounting standards starting in 2014 and permit others to make the switch even sooner. The switch to international standards could be staggered starting with large U.S. companies in 2014, followed by mid-sized companies in 2015, and small companies in 2016.

A small group of large companies could begin using the standards as early as next year. To qualify, the company must be among the 20 largest companies in its industry and a large number of its competitors would have to already be using the international standards.

View the Resource

Share or bookmarklet this web page at: