Adoption of IFRS in the US will mean sweeping changes in the way companies
account for their compensation and employee benefit plans.
The warning of the changes, which will add to the workload of finance
departments, comes from Deloitte US tax partner Grace Melton, CFO.com
‘The interplay between the broader impact of the transition to IFRS will
require companies to assess their compensation philosophy and plan design,’
Melton said during a webcast.
According to Melton, companies will probably want to review agreements
currently in place so as to determine how the new rules will affect specific
levels of executive compensation as well as the impact on broader employee
IFRS could cause companies to re-arrange the metrics for performance-based
Experts predict that while the US eight more years to prepare for the
adoption of IFRS, the impacts of the standards are expected to spill over into
human resources and information technology departments.
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