On July 13, 2012, the SEC's Office of the Chief Accountant published a final report on its work plan related to global accounting standards and the impact that the use of International Financial Reporting Standards (IFRS) by US issuers would have on the US securities market. The report makes clear that its publication does not imply that the SEC has made a policy decision on whether IFRS should be incorporated into the financial reporting system for US issuers or how any future incorporation should be implemented. The SEC is accepting public comments on the report.