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Tag >> XBRL
Nov 16
2010

CFOs: Do they really want accounting convergence?

Posted by dbedell in XBRLUS GAAPIFRSFASBcompliance

dbedell

US CFOs are not really keen to see convergence of US GAAP and IFRS come to fruition, according to a survey conducted by chartered accountant and management consultant firm Grant Thornton.

The survey, which polled more than 500 US chief financial officers and controllers, found that more than a quarter of respondents felt IFRS adoption in the US should never happen, while half felt that it should be held off until full convergence is reached—so not for another five or seven years.

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