I recently read the transcripts of two recent speeches on the question of the future of IFRS in the US. They are as different as two speeches could be on this topic. As one might expect, the adopt-IFRS-or-the-sky-will-fall speech emanated…
The European Commission sponsored a two-day conference last week entitled "Financial Reporting in a Changing World." I was not invited to speak (J), but if I had been, this is what I would have said: Let's not use this 'changing…
As I mentioned in a previous post, PCAOB member Charles Niemeier delivered a tour de force critique of U.S. efforts to adopt IFRS, at a recent New York State Society of CPAs (NYSSCPA) educational event. To its credit, the NYSSCPA's…
The gap between U.S. GAAP (unintentional pun) and International Financial Reporting Standards is a Grand Canyon. How could it not be so, when U.S. GAAP takes up about 25,000 pages, while IFRS is a measly 2,500? And, that doesn't tell…