SEC’s Proposed Roadmap To Adopting International Financial Reporting Standards (Replacing U.S. GAAP)


Pryor Cashman’s Edward Normandin and Megan Penick have authored a Legal Update entitled “SEC’s Proposed Roadmap To Adopting International Financial Reporting Standards (Replacing U.S. GAAP).” The update discusses the Securities and Exchange Commission’s (SEC) proposed “roadmap” in requiring all U.S. public companies to switch from GAAP accounting to International Financial Reporting Standards for the reporting of financial information in their SEC filings.

If adopted, public companies will have to convert over to the new standards beginning with SEC filings for the 2014 fiscal year for some large companies and 2015 or 2016 for others, depending on market cap. Public companies and their accountants and legal counsel will have to prepare well in advance for the conversion, if adopted.

LOADING PDF: If there are any problems, click here to download the file.

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.

© Pryor Cashman LLP | Attorney Advertising

Written by:


Pryor Cashman LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.