RegulationAccounting StandardsUS interest in IFRS picking up

US interest in IFRS picking up

The latest survey by Deloitte signals a growing interest among US companies in adopting IFRS

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

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