On July 7th, the SEC held a roundtable discussion on the integration of International Financial Reporting Standards ("IFRS") with U.S. GAAP. See SEC Press Release. MarketWatch reported that commenters suggested a go-slow approach. Comments. Bloomberg reported that SEC Chairman Mary L. Schapiro said that discussions will proceed into next year. Timeline. New York Times columnist Floyd Norris wrote that "condorsement," which blends the acceptance of IFRS with convergence of IFRS with GAAP, is the most likely outcome. Condorsement.