IFRS in the US: The importance of being financially bilingual

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03/05/2014 by US GAAP & IFRS Convergence
IFRS in the US: The importance of being financially bilingual

At a glance

US public companies will not be required to adopt IFRS in the foreseeable future, but it’s increasingly important for a US capital market participant to be financially bilingual.

Continued global adoption affects US businesses, as additional countries permit or require IFRS for statutory reporting purposes and public filings. IFRS requirements elsewhere in the world also impact US companies through cross-border, merger and acquisition (M&A) activity, IFRS’ influence on US GAAP, and the IFRS reporting demands of non-US stakeholders.

It is increasingly important for a US capital market participant to be financially bilingual.