Business Services Industry

Majority of CFOs do not agree with SEC on IFRS - More than three-fourths have no experience in preparing IFRS statements

Business Wire, Oct 25, 2007

CHICAGO -- In a national survey of chief financial officers and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International, one of the six global accounting, tax and business advisory organizations, 56 percent do not agree with the SEC's proposal to permit foreign firms listed on U.S. exchanges to file financial statements prepared according to International Financial Reporting Standards (IFRS) without reconciliation to U.S. Generally Accepted Accounting Principles (GAAP). In addition, a great majority of public companies (90.57%) as well as private companies (75.16%) believe that today's accounting standards are too complex.

[TABLE OMITTED]

About Grant Thornton LLP

Grant Thornton LLP is the U.S. member firm of Grant Thornton International, one of the six global accounting, tax and business advisory organizations. Through member firms in more than 110 countries, including 50 offices in the United States, the partners and employees of Grant Thornton member firms provide personalized attention and the highest quality service to public and private clients around the globe. Visit Grant Thornton LLP at www.GrantThornton.com.

COPYRIGHT 2007 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Content provided in partnership with Thompson Gale