There is still some uncertainty about when and how and if the US will switch over to international financial reporting standards. The sec has not yet decided whether or not to proceed with incorporating IFRS into U.S. financial reporting or how it would be done. The sec might make a decision by the end of 2011 and here we are in 2015 and still no decision! Do you think the US should adopt IFRS? Why or why not?

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There is an argument in the accounting sector in adopting IFRS for GAAP Some critics believe that ad... View the full answer