SEC Proposes Change From U.S. GAAP to International Standards

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The Securities and Exchange Commission (SEC) recently announced a proposal that would require all U.S. public companies to file their SEC financial reports using international financial reporting standards. Currently, all U.S. issuers must file their SEC financial reports using U.S. generally accepted accounting principles.

Corporate partner Edward Normandin and corporate associate Megan Penick have prepared a Legal Update detailing the proposal.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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