Thursday, January 08, 2009

US CFOs back early IFRS adoption


Almost half of US finance professionals would now consider adopting IFRS earlier rather than later

US company finance professionals in fast increasing numbers are now considering adopting International Financial Reporting Standards (IFRS) sooner than the timetable proposed in the Securities and Exchange Commission (SEC)'s IFRS roadmap.

The latest survey results from Deloitte show almost half (42%) of more than 200 finance professionals representing companies of various sizes and industries surveyed in November indicated they would consider implementating IFRS sooner than 2014, if they were permitted under the mandated adoption date proposed by the SEC recently.

This is a significant increase on a similar Deloitte IFRS study conducted earlier in 2008 showing 30% of respondents willing to consider adopting IFRS, if given the opportunity.

See full Article.