Fantastic! The SEC issued an interpretation of an accounting standard that could make it easier for banks to report smaller losses, or perhaps even profits, when they announce results for the third quarter, which ended Tuesday. So far, the move on Tuesday drew praise from the ABA, which whined to the SEC that auditors wereContinue reading “The SEC backs off, and banks still turn coal to diamonds from their @$$”
This Wednesday, the SEC will finally let us know a date for US Companies to be allowed to start using IFRS as their reporting standards. It’s essentially going to be a roadmap that the SEC commissioners will consider, and then of course open it up to the public and watch the fireworks begin.