Robert Kugel's Analyst Perspectives

IFRS for the U.S.? Yes – But When and How Are Still Iffy

Posted by Robert Kugel on Jul 18, 2011 12:01:37 PM

Hans Hoogervorst, who just succeeded Sir David Tweedie as the chairman of the International Accounting Standards Board (IASB), recently said he is “optimistic the SEC will move to fully incorporate IFRS [International Financial Reporting Standards] shortly.” I find it hard to see why, unless one has a fairly elastic definition of “fully,” “incorporate” and “shortly” (or at least two out of three). Then again, one shouldn’t fault the head of an organization for expressing undue optimism since that’s what he or she is supposed to do. 

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Topics: Reporting, Consolidation, FASB, IASB, IFRS, principles-based, rules-based, Business Analytics, Business Collaboration, Accounting, Business Performance Management (BPM), Financial Performance Management (FPM), GAAP, SEC