OMB files this
comment in accordance with 5 CFR 1320.11(c). This OMB action is not
an approval to conduct or sponsor an information collection under
the Paperwork Reduction Act of1995. This action has no effect on
any current approvals. If OMB has assigned this ICR a new OMB
Control Number, the OMB Control Number will not appear in the
active inventory. For future submissions of this information
collection, reference the OMB Control Number provided. Resubmit
when proposed rule is finalized.
Inventory as of this Action
Requested
Previously Approved
04/30/2012
36 Months From Approved
04/30/2012
13,545
0
13,545
21,337,939
0
21,337,939
2,845,058,500
0
2,845,058,500
Form 10-K is filed by issuers of
securities to satisfy their annual report obligations pursuant to
Sections 13 and 15(d) of the Exchange Act.
We anticipate that the proposed
amendments would increase the burdens and costs for U.S. companies
that switch from U.S. GAAP to IFRS accounting. We derived the
burden estimates for the forms and schedules by estimating the
total amount of time that it would take a company to prepare its
financial statements in accordance with IFRS.The burdens and costs
include costs to transition to IFRS reporting, such as determining
the effect of first-time IFRS adoption, accounting systems changes
to support financial reporting using IFRS, and potentially higher
costs for accounting personnel and outside consultants who are
familiar with IFRS.
$75,000
No
No
Uncollected
Uncollected
No
Uncollected
N. Harrison 202
942-2910
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.