Date Added: Jun 2009
IFRS, the accounting framework used by most companies in the world today, is likely to be adopted soon in the U.S. Most companies will require a significant investment of time and resources to address the strategic, business and technology related issues that will arise in a conversion to IFRS. Moving from any local GAAP to IFRS is a significant challenge, but not always for the reasons that people expect. A natural response is to suppose that IFRS causes systems and process upheaval but, while it is true that these impacts are important, there are far more fundamental and earthy matters to be considered first.