The AICPA has recommended a few changes to the IFRS road map. For example, the AICPA wants early adoption of IFRS to be available to more firms. "We ... recommend that the option to early-adopt IFRS be expanded to other companies, in particular smaller companies," the AICPA said in a comment letter. "Furthermore, we believe that if the SEC decides to proceed with rules requiring U.S. public companies to file financial statements prepared in accordance with IFRS, all public companies should be permitted to early-adopt IFRS."
Published in Brief: