Global accounting firm CEOs on challenges--transitioning from GAAP to IFRS, and more.
Financial Executive › Vol. 24 Nbr. 4, May 2008
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Financial reporting
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Global accounting firm CEOs on challenges--transitioning from GAAP to IFRS, and more.
CEOs of major accounting firms (alphabetically) respond to this question: What major challenges do you envision within the next 3 to 5 years--for both your clients and your firm--related to financial reporting, auditing and likely moving from U.S. generally accepted accounting principles (U.S. GAAP) to International Financial Reporting Standards (IFRS)? How can these challenges be overcome?
Timothy P. Flynn, Chairman, KPMG International The question about whether the world is going to operate under global standards is no longer "if," but "when." U.S. multinational companies must think about converting to IFRS from two perspectives. First, from a regulatory perspective, by ensuring they are prepared to respond to any regulatory mandate to adopt...See the full content of this document
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