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Advanced SEC Reporting Faculty
Sam Doolittle, CPA
Partner, Global IFRS and Offerings Services
Deloitte & Touche LLP
In the U.S., the current principles ...
In the U.S., the current principles are rules-based, Sam Doolittle of Deloitte said.
"This is fundamentally a different approach to rulemaking," Mr. Doolittle
"Here [in the U.S.] it is very prescriptive.
If you have A, B and C, you know what to do."
In addition, with the principles-based system it becomes much more important for the companies to analyze each situation, said Mr. Doolittle
Sam Doolittle, Partner, Deloitte & Touche LLP
The one big lesson that US ...
The one big lesson that US companies can learn from foreign businesses that have adopted IFRS already is to fully appreciate the effort involved, says Sam Doolittle, a global IFRS partner at Deloitte & Touche in San Francisco.