US - IFRS Risk Planning and Controls Execution

The US Securities and Exchange Commission (SEC) proposed roadmap for the adoption of International Financial Reporting Standards (IFRS) may require that companies perform US GAAP / IFRS parallel accounting over a multiyear period. Companies can leverage the expertise of their Sarbanes-Oxley compliance staff to evaluate the effects of IFRS conversion on business processes and internal control over financial reporting. (Read the article "IFRS Risk Planning and Controls Execution: Strategic considerations for financial managers" in the September 2009 Journal of Accountancy online.)