A global company such as HSBC might argue that a move to IFRS would be costly and

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A global company such as HSBC might argue that a move to IFRS would be costly and would not add value to financial statement users. a single set of global accounting standards would reduce the company's costs of compliance. country-specific accounting standards are more useful to its reporting entities in different countries. convergence, over time, between U.S. GAAP and IFRS is preferable to an outright IFRS adoption by the United States.