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The movement toward International Financial Reporting Standards (IFRS) as a single set of globally accepted accounting standards is quickly gathering momentum. IFRS is rapidly gaining acceptance around the world, spurring U.S. companies to assess the potential implications of adopting the standard. The recent Securities and Exchange Commission (SEC) developments have served as a wake-up call for many U.S. executives - especially those at multinational companies. IFRS is no longer a topic reserved mostly for foreign private issuers filing statements with the SEC. With the opportunity to file financial statements according to IFRS within reach, more U.S. companies have greater interest in understanding (and mobilizing around) IFRS and the associated benefits.
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