The SEC has been accused of soft pedaling IFRS adoption in an article written yesterday for CFO.com. The piece criticizes Chairman Cox for failing to give the issue more than a fleeting mention to the roadmap for mandatory IFRS reporting at the Financial Executives International conference in New York on Tuesday. ‘Christopher Cox referred mainly to the proposal's cautionary language making it clear that mandatory adoption of IFRS is not a done deal,’ warned reporter David McCann.
The SEC is blamed from making as little fuss as possible over its subtle posting of the roadmap for mandatory IFRS reporting. CFO.com points out that the Friday evening announcement was published in the 'proposed rules' section of the SEC's website but wasn't accompanied by a press release or even a link on the SEC's home page.
According to the article, attendees were concerned about the little attention given to IFRS in the States. Cox was targeted for seeming like he wanted to escape to avoid questioning on the conversion.