| July 31, 2012
According to a recent survey of finance and accounting professionals, Kforce Finance and Accounting found that only 13 percent of the respondents said their employers are currently providing staff training on International Financial Reporting Standards (IFRS). These statistics are not surprising considering the Securities and Exchange Commission (SEC) has yet to make a decision on whether IFRS will be adopted by public companies in the U.S.
“It is not an easy decision to toss out U.S. Generally Accepted Accounting Principles; however, the SEC is seriously considering IFRS for public companies,” said Marc Gardiner, CPA, CEO of IASeminars, an independent global financial training company specializing in international accounting seminars. “While a formal decision on this was promised for last year, the SEC has deferred their decision to this year. Months have passed and still no verdict has been reached. At this point, it could happen at any moment.”
Despite the SEC’s stalemate, 42 percent of the Kforce survey respondents indicated that their interest in IFRS training is high. For finance and accounting executives in the U.S., this may be due to increased exposure to IFRS through the globalization of business.
To read the full article, please see Kforce Kronicle