Investment professionals strongly favour one global GAAP

  • CFA Institute (lt green) Image

16 Apr 2009

91% of the 1,574 Chartered Financial Analysts responding to a CFA Institute survey support worldwide companies using a single set of accounting standards to prepare general purpose financial statements. 64% of respondents believe companies should use IFRSs as promulgated by the IASB, which maintains sole authority to make changes or exceptions to the standards.

Regarding a possible approach to adopting IFRSs in the United States, respondents were split, with 50% preferring a staged adoption approach as proposed in the US SEC roadmap, while 47% prefer adoption at the same date for all filers. Respondents were also divided on who should be responsible for ensuring consistent enforcement across countries – with 50% preferring a single global enforcement body and 47% preferring enforcement at the country level. Click for:


Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.