IFRS Survey Shows Support, Demand for Certainty
Note to SEC: Set a date.
That sentiment appears in a number of the IFRS road map comment letters the SEC received. It also reflects the desires of the 150-plus finance executives who participated in a Deloitte IFRS Web survey last month.
Sixty-two percent of survey respondents say they agree or strongly agree that the SEC should establish a specific date by which U.S. companies are required to use IFRS. Overall, the move to IFRS enjoys widespread support, or at least acceptance: Only 9 percent of survey respondents say they oppose (8 percent) or strongly oppose (1 percent).
The rest of the survey results cover other components of the current road map, on-staff IFRS expertise, and conversion budgets.
For example, 64 percent of respondents say their companies have not yet allocated any budget to IFRS; 22 percent indicate their organizations have budgeted for “assessment and readiness”; and only 3 percent of surveyed companies have budgeted for all aspects of conversion. ###
April 24th, 2009 at 1:15 pm
The sooner we get this date the better. It might finally light a fire under some of these companies that are putting off dealing with it.
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