Cox Dissects GAAP-IFRS Convergence Meltdown

American capital markets simply can’t be served by the international accounting rulemaking process, making it clear that International Financial Reporting Standards won’t be adopted in the United States “in our lifetime,” said Chris Cox, former chairman of the Securities and Exchange Commission during a recent speech. “Today, I come to bury IFRS,” he said. More inside.
Source: Accounting and Auditing