07.02.09

IFRS in America

Ramona Dzinkowski

As the IASB and FASB continue to work toward convergence of IFRS and U.S. GAAP, differing opinions seem to be surfacing between these groups and the SEC regarding how and when convergence or adoption will occur. The SEC seems to be taking a wait-and-see approach before taking any action, yet stakeholders in the financial reporting community would like the Commission to set a hard target date for adoption. This will help many of the disparate groups to move forward in preparations, including training auditors, implementing the appropriate changes in accounting education, and preparing company processes and infrastructure for the changeover.

The full English-language version article originally appeared in Strategic Finance Magazine, September 2008. The full version can be found online (for subscribers only) at the Strategic Finance Magazine website. Alinga Consulting Group has obtained rights to offer a Russian translation of this and other articles for the benefit of your Russian-speaking auditors and accountants. Forward this link to them! To receive updates on future articles, simply send an email with the “Subscribe Alinga” in the subject field to j_wilson@acg.ru.

Ramona Dzinkowski is an economist and business journalist living in Toronto. You can reach her at rndresearch@interhop.net. For copies and reprints, contact the author.

Read More about Accounting Services from Alinga Consulting Group