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SEC Concept Release: Allowing U.S. Issuers to Prepare Financial Statements in Accordance with International Financial Reporting Standards

Tuesday, November 13, 2007

The Financial Reporting Committee (“the FRC”) of the Institute of Management Accountants (“IMA”) appreciates the opportunity to provide its views on the Concept Release on Allowing Us. Issuers to Prepare Financial Statements in Accordance with International Financial Reporting Standards (the Concept Release). FRC is the financial reporting technical committee of the Institute of Management Accountants The FRC is comprised of representatives from preparers of financial statements from some of the largest companies in the world, the largest accounting firms in the world, valuation experts, accounting consultants as well as academics. The FRC reviews and responds to research studies, statements, pronouncements, pending legislation, proposals and other documents issued by domestic and international agencies and organizations.

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