The increasing acceptance of IFRS, both in the United States and around the world, means that now is the time to become knowledgeable about these changes.
The globalization of business and finance has led more than 12,000 companies in almost a hundred countries to adopt IFRS.
IFRS Primer for Audit Committees
The convergence of US GAAP with International Financial Reporting Standards (IFRS) for US companies seems increasingly likely. Audit Committees should anticipate this significant change and inquire of the CEO and CFO as to the readiness of the company, and their implementation plan for moving to IFRS if/when required by the SEC.
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