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IFRS Preparedness is on the Rise

December 14, 2008

Recently two publications published surveys indicating an improvement in IFRS preparations by respondents.

The Controllers’ Executive Board published a survey indicating that 56% of the respondents stated that they had done an analysis of the major differences between US GAAP and IFRS (a 13% increase from May 2008. The complete results of the survey are here.

Additionally, the AICPA recently published a similar survey stating that 55% of respondents were preparing in a variety of ways for the adoption of IFRS. The full story is available here (www.IFRS.com)

Hopefully momentum will continue to grow since we all need to treat the IFRS transition with seriousness thereby minimizing any IFRS transition risks.

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