There has been little progress in recent years in the United States with respect to consideration of incorporating International Financial Reporting Standards (IFRS) into the financial reporting regime for domestic issuers, while at the same time, IFRS continues to be adopted or permitted in additional jurisdictions around the world.
Is the goal still to have a single set of globally accepted standards that are consistently applied and enforced, and if so, how might the United States proceed from here to achieve that objective?
Read a July 2015 report prepared by KPMG LLP: Defining Issues: IFRS in the United States – Current Status and Outlook
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