The U.S. Securities and Exchange Commission might allow some listed companies to adopt International Financial Reporting Standards in the upcoming year and make it mandatory by 2014. The anticipated move has encouraged Japan, which along with the U.S. was one of the last IFRS holdouts, to consider transitioning to the global standards. "The accounting standards environment has changed greatly. If things remain the same, Japan will be frozen out," said Koichi Masuda, head of the Japanese Institute of Certified Public Accountants.
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