Study explores the political dimensions of IFRS adoption
A recent paper from Harvard Business School explores the international political dynamics of how countries approach the adoption of International Financial Reporting Standards (IFRS).
The draft working paper, The international politics of IFRS harmonization, draws on field studies in Canada, China and India to derive a 'framework' to analyse how international politics can shape a specific country's strategies with IFRS adoption. Whilst international politics is not the only or even the deciding element in understanding the growth of IFRS, the author of the paper argues it is likely to be important.
AICPA recommends optional adoption of IFRS by US public companies in comment letter to SEC
The American Institute of Certified Public Accountants (AICPA) has submitted a comment letter (link to AICPA website) to the US Securities and Exchange Commission (SEC) on its views of the SEC staff paper, Work Plan for the Consideration of Incorporating International Financial Reporting Standards Into the Financial Reporting System for U.S. Issuers — Exploring a Possible Method of Incorporation. http://www.aicpa.org/Press/PressReleases/2011/Pages/AICPARecommendsSECAllowOptionalAdoptionofIFRSbyUSPublicCompanies.aspx