Some companies are urging the Securities and Exchange Commission to speed up its decision on a proposal to require U.S. companies to switch to international accounting rules.

Monday marked the deadline for the public to comment on the SEC's 165-page "road map" to possibly require companies to scrap U.S. generally accepted accounting principles, known as GAAP, in favor of international financial reporting standards, or IFRS, starting in 2014. The plan aims to create a uniform accounting standard to help investors compare financial statements between U.S. and foreign companies.

As proposed, the SEC would make a final decision on the issue in 2011. If it decides to require the switch, the SEC may stagger the timeline for implementing the new rules, giving large companies until 2014, followed by mid-sized companies in 2015 and small companies in 2016. But some large companies say the proposed timeline is problematic because it may not give them enough time to make the transition, and they asked the SEC to clarify its plans.

"Confusion is widespread in the marketplace as companies try to discern the SEC's timeline and sense of urgency with respect to IFRS," wrote Brian F. Miller, senior vice president of corporate governance for retailer Kohl's Corp. (KSS). "We respectfully ask the SEC to be clearer about any changes that might be made to the roadmap and timing of convergence so that company resources can be strategically deployed."

A spokesman said commission policy doesn't permit SEC officials to publicly discuss rule-making comments. Now that the comment period has closed, the SEC staff will sift through the letters and decide whether to recommend action.

While it's possible the SEC could change the timing of the road map's implementation, SEC Chairman Mary Schapiro hasn't mentioned the transition to IFRS as one of her top priorities in any of her major recent speeches in the U.S. During her confirmation hearing, she told the Senate Banking Committee she had concerns about the cost of conversion for companies and the level of detail of international accounting standards compared to U.S. standards.

At a meeting of the International Accounting Standards Committee Foundation Trustees and Monitoring Board in London earlier this month, however, Schapiro expressed support for a universal accounting standard, according to a transcript.

If the SEC implements the road map in 2011, large companies could be required to provide three years of audited comparative financial statements using both GAAP and IFRS beginning in 2012 - a timeline many said is too early. Some large companies are eligible to begin a voluntary shift in 2010, but without more direction from the SEC, some companies said they are reluctant to incur the costs.

"In the absence of a date certain for the mandatory requirement for IFRS, we would be unwilling to make the major investment required to implement IFRS," wrote Patrick Mulva, vice president and controller of Exxon Mobil Corp. (XOM).

Ernst & Young LLP, which favors transitioning to IFRS, suggested that if the SEC is unwilling to speed up its vote on the proposal, then it should extend the timeline for implementation of the rules or only require large companies provide one year's worth of comparative financial statements.

-By Sarah N. Lynch, Dow Jones Newswires; 202-862-6634; sarah.lynch@dowjones.com