AICPA report: If you're not doing financial reporting, do you need to know about IFRS?

Interesting question at the AICPA National BV Conference this morning.  "Well, frankly, I guess if you're only doing divorce work in Seattle, you could skip following convergence," admitted Neil Beaton.  "But I ask the question if a head in the sand approach to these professional standards issues is the right approach for any appraiser."  Beaton says that the interrelations between standards and the way people conduct appraisal methods and practices mean that "you can't avoid the fact that financial reporting requirements have an impact on every business valuation."