Whither US GAAP?

摘要

A variety of emotions are invoked by US Generally Accepted Accounting Principles (US GAAP), but one - nostalgia - may arise sooner than most of us may expect. The surprise is the announcement by the Securities and Exchange Commission (SEC) that it will consider not only (a) the withdrawal of the IFRS-US GAAP reconciliation requirement for foreign private issuers (FPIs) - eg, UK-listed companies with a secondary listing in New York - but also (b) the possibility of permitting US domestic registrants to use International Financial Reporting Standards.