Is SEC© on the (IFRS) Road (map) Again? FAF Contributes $3 Million to IFRS Foundation

In a step towards global collaboration towards improved financial reporting, the Financial Accounting Foundation, made in consultation with the SEC, contributed $3 million dollars towards the IFRS Foundation.

The IFRS Foundation contribution could suggest that the SEC© is planning to make an alignment with global accounting standards in order to improve financial reporting. The contribution was met by both detractors and supporters from both domestic and international industry professionals. For more details on the potential implications the contribution has on accounting practices and financial reporting, please click here.