Who are the key players in the United States regarding the development and adoption of IFRS?
The key players are the Securities and Exchange Commission, which is responsible for the supervision and regulation of the securities industry; the Financial Accounting Standards Board, an independent body that establishes and interprets U.S. GAAP; and the IASB, which is working with the FASB on the convergence of GAAP and IFRS. Through its Accounting Standards Executive Committee, the AICPA has provided thought leadership to the IASB and the FASB on financial reporting topics.
The Securities and Exchange Commission, which is responsible for the supervision and regulation of the securities industry; the Financial Accounting Standards Board (FASB), an independent board that establishes and interprets GAAP, and the IASB, which is working with FASB on the convergence of GAAP and IFRS. Through its Accounting Standards Executive Committee, the AICPA has provided thought leadership to the IASB on financial reporting topics.
The key players are the Securities and Exchange Commission, which is responsible for the supervision and regulation of the securities industry and has oversight responsibility for the FASB; the Financial Accounting Standards Board, an independent body that establishes and interprets U.S. GAAP; and the IASB, which is working with the FASB on the convergence of GAAP and IFRS. Through its Accounting Standards Executive Committee, the AICPA has provided thought leadership to the IASB and the FASB on financial reporting topics.
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