Wednesday, March 17, 2010

US – Executives want earlier implementation of IFRS

A survey of 2,500 executives by accounting firm KPMG found that 49% of US executives want to move to International Financial Reporting Standards (IFRS) earlier than the Securities and Exchange Commission (SEC) tentative 2015 potential adoption date. The desire for an earlier shift comes even before US regulators have made a formal decision to adopt IFRS. In February 2010, the SEC said US companies would not be able to use the standards until 2015 at the earliest. (Read the article Half of US execs want to use IFRS early-survey at Reuters online.)