US - Educators say students need IFRS to remain competitive

According to a survey by the American Accounting Association (AAA) and KPMG LLP, nearly half of accounting professors said the United States needs to adopt global standards to remain competitive, and three-quarters think International Financial Reporting Standards (IFRS) need to be immediately incorporated into their curricula. When asked to assess their university’s preparedness to teach IFRS, only 8% thought at least half of their school’s accounting faculty were qualified to teach it. Slightly more than half of the professors (55%) were also concerned that administrators do not understand the magnitude of the curriculum change required to respond to IFRS adoption in the United States. (Read the article "Accounting Educators Say U.S. at Disadvantage Without IFRS" at JournalofAccountancy.com)