Give Companies the Choice to Adopt IFRS: Accountants

Responding to what it sees as a growing expectation that the Securities and Exchange Commission will put international financial reporting standards (IFRS) on track for incorporation in the United States this fall, the American Institute of Certified Public Accountants proposed today that big U.S.-based multinationals have the option to adopt the global standards.

"An adoption option would provide a level of consistency in the treatment of U.S. companies and foreign private issuers that report under IFRS that does not exist today, and would facilitate the comparison of U.S. companies that elect IFRS with their non-U.S. competitors that use IFRS," wrote Paul Stahlin, the AICPA chairman...

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