Question: Though there is no clear indication that the U.S will ever incorporate IFRS, former Chief Accountant of the SEC's Office of the CHief Accountant believes

Though there is no clear indication that the U.S will ever incorporate IFRS, former Chief Accountant of the SEC's Office of the CHief Accountant believes that FASB and IASB should continue to collaborate to eliminate the differences in domestic registrants. Do you think that FASB and IASB will ever create an agreed upon set of standards and what are the primary differences that prohibits the two entities from creating a collaborative set of standards?

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