A great deal of disinformation has been proffered concerning the prospects for the adoption of International Financial Reporting Standards (IFRS). The elephant in the room is the USA. The USA is the last but most important hold-out. Without a US adoption of IFRS, IFRS will be relegated to a...

State regulation of capital markets in the US and the UK climaxed soon after World War II. Thereafter, this “contested terrain” has been the site of a series of intense conflicts and struggles over the form and extent of regulation. Leading academic protagonists include George Benston and...