Last Friday, the SEC signed protocols with the securities regulators of four other countries - Belgium, Bulgaria, Norway and Portugal - to share information on the application of International Financial Reporting Standards in each others' countries.

The protocols are more or less the opening up of formal channels of communication - they're not a commitment, they don't create new rights or supersede old agreements. They mostly establish an intention to cooperate between the US and the other countries. They follow a similar protocol signed about a year ago with the United Kingdom's Financial Services Authority .

It's a good thing that the SEC has decided not to travel alone on its journey to international accounting standards. These countries have had more experience in the application - or misapplication - of International Financial Reporting Standards, and there could be valuable lessons for the SEC to apply.

Speaking of IFRS...

Next week, on June 5, I'll be a member of a panel on IFRS at a conference in New York City. It's sponsored by Financial Executives International and it's entitled "The World Is Moving To IFRS: Are You?"

Well, it's not like you have much of a choice any more. It also doesn't look like there's much choice if you want to attend the conference: it's sold out, but wait-listed, from what the website says. With guests like FASB's Suzanne Bielstein, the IASB's Wayne Upton and John White of the SEC, it's sold out with good reason.

Also next week: on Monday, June 2 I'll be a guest panelist on a FASB webcast on the credit crunch and fair value reporting entitled "The Crisis in the Credit Markets: Causes, Reporting Issues, and Responses." The price is right on this one: free. And you don't have to get out of your chair. I hope you'll tune in Bob Herz, Matt Schroeder (of Goldman Sachs), Ray Beier (of PricewaterhouseCoopers) and me at 2 pm next Monday.