IFRS continues to receive attention in the US despite
the recent end to an era of joint standard setting. Erin Bennett,
US Accounting Consulting Services, looks at why IFRS is still
important in the US.
If you are looking for a prediction of when the US will adopt
IFRS, you should stop reading now. A prediction at this point would
be speculative to say the least. The only thing to say right now is
'not in the near future'. That said, US markets are
continuing to grow familiar with IFRS but how and why?
For US preparers, public or private, big or small, knowledge of
IFRS is important. IFRS is increasingly relevant to many US
businesses as they engage in cross-border mergers and
acquisitions1, report to their non-US stakeholders, and
manage their overseas operations.
