While the near-term use of IFRS in the US by domestic public companies will not be required, IFRS remains very relevant to many US businesses. Companies are and will be affected by IFRS at varying times and degrees of magnitude, driven by factors such as size, industry, geography, M& A activity, and global expansion. Despite an unclear SEC adoption timeline, we believe the impact of accounting changes resulting from the FASB's and IASB's joint efforts will be significant and will have broad based implications.
For the latest information on IFRS, visit PwC’s IFRS in the US: The importance of being financially bilingual web page.
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