Dennis Nally, PricewaterhouseCoopers' chairman and senior partner says moving to IFRS will improve US competitiveness
NEW YORK, March 25, 2008 – PricewaterhouseCoopers US Chairman and Senior Partner Dennis Nally called for a shift in accounting standards away from US GAAP to International Financial Reporting Standards (IFRS) in a speech today at the Union League Club in New York. In his speech, Mr. Nally urged members of the Financial Executives Institute to embrace the rapid and often disruptive changes brought about by globalization as an opportunity to address systemic problems that impact America’s long term competitiveness. He argued that global economic and cultural integration coupled with the rapid growth of emerging economies will demand more engagement and cooperation from the United States, citing the transition of accounting standards as a prime example.
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Dennis Nally's full remarks on the adoption of IFRS. (39.7kb)
