DB2- Accountants of the World Unite!_ Business Class - Bloomberg

I n light of these econom ic and political

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Unformatted text preview: and industries. I n light of these econom ic and political considerations, one w ay for the SEC to m ov e forw ard is to offer U .S. com panies a choice for som e tim e. That is, the regulator could giv e U .S. firm s an option to apply I FR S, perhaps ev en starting in 201 2, and then set a longer deadline for I FR S adoption for the rest of the econom y . Hav ing som e U .S. firm s report under the international standards w ouldn't hav e dram atic com parability consequences. Moreov er, Am erican inv estors are already fam iliar w ith I FR S reports from foreign firm s that list on U .S. exchanges. But such a m ov e by the SEC w ould be v iew ed as a com m itm ent to I FR S, w hich w ould help the U .S. politically . I t also w ould giv e Am erican com panies m ore tim e to adjust: Firm s for w hich the benefits outw eigh the costs w ould m ov e first, w hich w ould allow auditors and others to learn from the process, w hich in turn should bring dow n the costs of I FR S adoption for other firm s w ith sm...
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This document was uploaded on 03/06/2014 for the course MGMT 4369 at Texas Pan American.

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