A long-awaited decision on whether U.S. companies will switch to international accounting rules was pushed back Monday, as a top regulator said more time is needed.
The Securities and Exchange Commission’s staff will need “a few additional months” to complete work on its recommendation to the commission about whether U.S. companies should adopt the international rules, SEC Chief Accountant James Kroeker said. The SEC’s staff had been expected to make its recommendation by the end of 2011.
Mr. Kroeker, speaking at an accounting conference in Washington, said more time is needed to make sure everything is done right. The five SEC commissioners will make the final decision.
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