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Deloitte (United States) 2008 IFRS Survey: Where Are We Today?

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23 May 2008

Deloitte & Touche LLP (United States) has published 2008 IFRS Survey – Where Are We Today?.

This brief but informative report discusses the results of approximately 200 responses by US-company senior finance professionals to Deloitte's 2008 survey on IFRSs. The primary goal of the survey was to ascertain US companies' level of awareness about and interest in IFRSs. Some findings:
  • 30% of the respondents said that, if given the choice now, they would consider adopting IFRSs. Another 10% percent felt they needed more information. 18% were undecided.
  • Even among those companies that indicated they would not adopt IFRSs, if given the choice now, 45% would still consider adopting IFRSs within the next seven years.
  • The industries with the most interest in adopting IFRSs were financial services, health services, and consumer and industrial products.
  • Overall, more than 50% of respondents believe that at least a quarter of all US issuers will be using IFRSs within the next seven years, with approximately 85% of respondents indicating that at least 10% of US issuers will be using IFRSs.
  • Of those US companies that would consider adopting IFRSs, 53% said they would adopt within three years.
  • Of those companies considering IFRSs, 64% say they lack skilled resources in their US operations while 34% believe they lack skilled resources in their non-US operations. These results indicate that more training in IFRSs is required.

Click to view 2008 IFRS Survey – Where Are We Today? (PDF 850k).

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