Title
Should The SEC Adopt International Financial Reporting Standards?
Document Type
Article
Department or Administrative Unit
Accounting
Publication Date
2012
Abstract
In 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) formally began a process to converge Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). By the end of 2011, the SEC will likely decide on whether to adopt International Financial Reporting Standards as the financial reporting system for U.S. public companies, continue with the convergence project, or reject IFRS altogether. This paper examines the benefits and drawbacks of each option and formulates a recommendation as to which option is in the best interest of U.S. investors.
Recommended Citation
Ehoff, Clemense Jr. and Fischer, Dov, "Should The SEC Adopt International Financial Reporting Standards?" (2012). All Faculty Scholarship for the College of Business. 23.
https://digitalcommons.cwu.edu/cobfac/23
Journal
Review of Business Information Systems