Tuesday, October 20, 2009

US - AICPA survey shows CPAs look to SEC for leadership and direction

According to a recent survey conducted by the American Institute of Certified Public Accountants (AICPA), the United States accounting profession delayed taking steps to prepare for adoption of International Financial Reporting Standards (IFRS) over the last six months after the Securities and Exchange Commission (SEC) set aside its review of plans for adoption during the credit crisis. A 65% majority of CPAs said they want the SEC to address its plans for IFRS adoption by the end of the year. (Read the AICPA survey.)