Give Us IFRS

A vast majority of financial professionals supports the shift toward an international accounting regime, according to a recent Deloitte survey of CFOs and other financial managers. Seventy-five percent of the respondents “support the movement toward a single set of high-quality global accounting standards,” but 64 percent haven’t budgeted for the transition to the International Financial Reporting Standards. Sixty-two percent want the Securities and Exchange Commission to set a specific date for the conversion; 56 percent say the 2014 deadline in the SEC’s tentative roadmap was doable “or even could be accelerated.”