Europe’s largest professional accountancy body, the Institute of Chartered Accountants in England and Wales (ICAEW), says that the global financial crisis has clearly illustrated the need for a global accounting language. It urges the U.S. Securities and Exchange Commission (SEC) to decide quickly on International Financial Reporting Standards (IFRS) transition deadlines to limit uncertainty for U.S. companies. To read public comments received by the U.S. Securities and Exchange Commission (SEC) on its Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by U.S. Issuers, click here.
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