International Financial Reporting Standards (IFRS): U.S. considers costly switch to international accounting rules

January 6, 2009 at 11:59 pm

In a regulatory sea change that could cost billions of dollars, thousands of U.S. companies — plus foreign corporations that do business here — will adopt global financial reporting rules within five years if regulators have their way.
The impact is likely to surpass that of the Sarbanes-Oxley Act of 2002, the tough anti-corporate fraud law of the Enron era that cost individual businesses millions of dollars in accounting fees. Whether U.S. companies like it or not, the new era of global accounting appears unstoppable, and businesses that ignore the International Financial Reporting Standards (IFRS) will fall behind (E. Iwata, USA Today). Read full article


Entry filed under: Business Development, Regulations.

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
To learn more about the program, please email Kyle Horseman or call 859.426.3653.

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