SEC work plan for IFRS released

The Securities and Exchange Commission issued its Work Plan for the Consideration of Incorporating International Financial Accounting Standards Into the Financial Reporting System for U.S. Issuers. Although the SEC Work Plan attempts an even-handed assessment, its introduction says it “did not set out to answer the fundamental question of whether transitioning to IFRS is in the best interests of the U.S. securities markets generally and U.S. investors specifically.”