Unformatted text preview: are some people questioned and worried about this big change. Barbara Roper, director of investor protection at the Consumer Federation of America, said allowing certain U.S. companies to switch ahead of others would “shift the burden of the translation between the two accounting languages onto investors.” . D.J. Gannon, a partner with Deloitte & Touche LLP in Washington, figures most U.S. companies aren’t ready yet to switch to international accounting, and probably need five to seven years to prepare. “Education and training is a big issue,” Mr. Gannon said. Companies urge the SEC to be cautious in writing its own guidance and interpretation of international rules. Otherwise, they say, several national interpretations of the same global rules may develop, defeating the purpose of a single standard....
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- Spring '11
- Accounting, Corporation, U.S. companies, Christopher Cox, U.S. accounting standards