The SEC is holding an open meeting today to discuss the possibility of eliminating a reconciliation to US accounting rules for those companies who report in international standards. This is an important step along the path of U.S. companies adopting international accounting standards and moving away from US GAAP. This could mean U.S. accounting rules are going to become less relevant and over time U.S. companies will migrate to international rules. It's a controversial issue, and RiskMetrics Group's Financial Research and Analysis unit issued a note on the topic yesterday.

To access the note, Tipping Point for US GAAP, please visit the Accounting Section of RiskMetrics Group's Knowledge Center. We welcome your thoughts on this topic.