Majority of CPAs ask for IFRS option

BVWireIssue #110-2
November 9, 2011

A majority of CPAs say U.S. public companies should have the option to use International Financial Reporting Standards (IFRS) while the SEC decides whether to incorporate the standards into U.S. reporting requirements, according to an AICPA survey (and as reported in the Journal of Accountancy last week). The survey revealed that support for IFRS remains high among AICPA members, but, in the absence of a clear regulatory timetable, U.S. firms and organizations are delaying planning and preparation for the global standards.

Please let us know if you have any comments about this article or enhancements you would like to see.