US - Highlights of IFRS Research

Conversion from US GAAP to International Financial Reporting Standards (IFRS) is a heavily discussed topic in the corporate world. Expected benefits of adoption include reporting consistency, enhanced global competition and improved financial repotting transparency. While many countries worldwide have already adopted IFRS, many other countries are closely examining its effects before adoption, not only from an economic perspective but also from a reporting quality position. (Read the article Highlights of IFRS Research at Journal of Accountancy online.)