ACC IFRS Adoption Problem

Accounting
Tutor: None Selected Time limit: 1 Day

 What hurdles have there been for countries in their adoption of IFRS? Name a country and the hurdle they have had. 
May 17th, 2015

The biggest obstacle to IFRS adoption for U.S. public companies may be the funding of the IASB.

Voluntary funding was critical for the IASB as it got off the ground in the early 2000s; the SEC report said that until 2008, the IFRS Foundation financed the IASB largely through voluntary contributions from a wide variety of participants across the world’s capital markets. The concern with that model is that it leaves the IASB open to the perception that organizations that provide funding could try to influence accounting standards

http://www.journalofaccountancy.com/Issues/2012/Sep/20126059

May 17th, 2015

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