Thursday, April 12, 2007
Speech by SEC Staff:Remarks before the 2007 Conference on Principles-Based Accounting and the Challenges of Implementation by James L. Kroeker, Deputy Chief Accountant, Office of the Chief Accountant, New York, N.Y., April 4, 2007. The bottom line:
I want to focus on the potential for objective-oriented standards to enhance consistency and comparability in financial reporting for the benefit of investors. I will also discuss some challenges facing the profession in endeavoring to refocus on objectives in the development and application of accounting standards.