The SEC has scheduled a public roundtable on July 7, 2011 to discuss the benefits and challenges in potentially incorporating International Financial Reporting Standards (IFRS) into the final reporting system for U.S. issuers.

The July 7 event will feature separate panels representing investors, smaller public companies and regulators. The panel discussions will focus on topics such as investor understanding of IFRS and the impact on smaller public companies and on the regulatory environment of incorporating IFRS.

The SEC has requested topic suggestions to address at the roundtable, as well as potential roundtable participants. Please review the SEC's announcement for submission requirements.

The roundtable will be held in the auditorium at the SEC’s headquarters at 100 F Street, N.E., Washington, D.C. The SEC will publish a final agenda including a list of participants and moderators closer to the event date.

OUR TAKE: It’s great to see the SEC moving forward on this project and trying to get interested parties involved. We’re hopeful that the SEC takes care in assembling the panels to encourage a lively discussion. The SEC previously released a progress report on its review of IFRS, which we discussed in a prior post entitled "SEC Review of IFRS Making Progress."