Professor Elam

Friday August 1, 2014

I called this one correctly!  I Have maintained that the SEC would not want to give up rule making authority and sure enough the IASB has formally announced it ain't gonna happen.  For years we have herard that convergence was just around the corner as the distance to that corner grew longer and longer. YOu can read the exasperation in Hans statement for the US position. And frankly this is another reason not to locate an international firm in America.

I have to agree with Hans, this seems foolish, and in light of US firms mvoing offshore to avoid taxes is rather ironic. With SARBOX, Dodd Frank, and a 35% corporate tax rate I would not locate here, would you?