Current Issue / December 2008
Featured News
IFRS Quarterly Webcast Series - IFRS 101: The Essentials
To help members get ready for IFRS, the AICPA is offering a free Webcast on Dec. 12. A first in a series, the IFRS Quarterly Webcast Series — IFRS 101: The Essentials, will cover the background and history on IFRS convergence efforts, the proposed roadmap, a summary of critical differences between IFRS and U.S. GAAP, and how all these changes will affect your firm or company. Friday, Dec. 12, 2:00 – 4:30 pm, EST. FREE (when not claiming CPE). Register now.
Members’ Acceptance of IFRS Growing as Recent SEC Action Demonstrates Eventual Switch from GAAP
Results of a survey conducted this fall among AICPA members shows 55% of CPAs at firms and companies nationwide now say they are preparing for adoption of International Financial Reporting Standards, an increase of 14% from the 41% who were preparing for change according to an Apr. 2008 survey. Still, 65% of survey respondents said they have some knowledge of IFRS but need to learn more. On Aug. 27, the Securities and Exchange Commission voted to propose a roadmap for IFRS adoption for U.S. public companies. The roadmap was released on Nov. 14 with a comment deadline of Feb. 19, 2009. Read the press release and the survey results.
The AICPA’s current annual report has been posted online (PDF). “CPA: Commitment. Performance. Accountability.” tells how CPAs define and represent the profession’s messages and highlights some of the AICPA’s more significant activities to support CPAs.
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