US interest in IFRS picking up

A newly released survey by Deloitte shows 30% of chief financial officers and other senior finance professionals say they would consider adopting International Financial Reporting Standards (IFRS) if given a choice by the USA’s Securities & Exchange Commission (SEC) within the next three years.

Another 28% of respondents said they either lacked sufficient information to make a decision about IFRS, or they were simply undecided, leaving room for IFRS use to increase further, according to accounting web.com

Six months earlier, only 20% of respondents said they would consider adopting IFRS if given the choice by the SEC.

Although the interest in adopting IFRS is growing, the survey showed that, about two-thirds of those considering IFRS cited a lack of skilled resources in their US operations, while one-third believed they currently lacked skilled resources in their non-US operations.

Further reading:

IFRS taxonomy ready for use shortly

Read the accounting web.com story