Along the topic of why US hesitates to adopt IFRS, The textbook states the US is "disinclined to give up the GAAP standards over domestic issuers to an international standard-setting body headquartered in London." Would this be an altered or a different scenario if headquarters were outside of London? Why does specifically London set a red flag over the protection of US investors’ welfare?

New York State Society of Certified Public Accountants released their comments in 2009 voicing their concerns regarding IFRS adoption. Nearly over a decade later, in present day, would some accountants disagree with their colleagues that voiced their concerns back in 2009? Is the SEC’s plan for adoption still lacking sufficient detail?

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The International Accounting Standards Board IASB has achieved almost worldwide acceptance and adoption of its precious and harddelivered that is more than 30 years in the making babyInternational Fin... View the full answer