International accounting standards: The world's standards by 2002

From: The CPA Journal | Date: July 1, 1998| Author: | Copyright information

At a conference on international accounting standards (IAS) in Washington a year ago, the day's speakers were asked when standards developed by the International Accounting Standards Committee (IASC) will be acceptable for foreign securities issuers in the U.S. without reconciliation to U.S. GAAP. Panelists included an FASB member, someone from the SEC chief accountant's office, three Big Six partners (including an IASC board member), someone from industry, and me.

Several were noncommittal or cautious: "years down the road," "many hurdles," and so on. Others were more definite: "at least 10 ...

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