Globalization Resources
www.ifrs.com
Developed by the American Institute of CPAs, IFRS.com
provides comprehensive resources for accounting
professionals, auditors, financial managers, and other users
of financial statements.
AICPA Statement on SEC Roadmap for IFRS
The Securities and Exchange Commission’s
roadmap for the adoption of International Financial
Reporting Standards (IFRS) marks an important stage in what
the American Institute of Certified Public Accountants
believes will be the eventual move from U.S. Generally
Accepted Accounting Principles to international accounting
standards for public companies.
SEC to
Hold Hearing on IFRS, GAAP Role in the US Stock Market
Declines
The Securities
and Exchange Commission plans a hearing on August 4 to
analyze the performance of International Financial Reporting
Standards versus US generally accepted accounting principles
during the US credit crunch and subprime mortgage meltdown.
For more information, read the
full article.
AICPA Calls for Three-to-Five Year Timeline for Reasonable
Transition to IFRS
Barry Melancon, president and CEO of the
AICPA, speaking at a forum of accounting and finance
authorities on international accounting, called for a
reasonable and clear-cut time frame of three to five years
for the US accounting profession to adopt International
Financial Reporting Standards.
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