Transatlantic strain still threatens global accounting standards. By Alan Shipman

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While the UK and Europe have plenty of reservations about IFRS, the US is seeing CFO-level resistance, and the last few weeks have seen the IASB manouvering to keep their "vision thing" alive. Alan Shipman wonders when American businesses will stop minding the GAAP.

US financial regulators are embracing International Financial Reporting Standards (IFRS) as a way of taming their own corporates, and stopping an exodus of international companies fleeing the costs of translation to American GAAP. But recent surveys show American CFOs are still overwhelmingly opposed to IFRS and the EUs attempts at local adaptation could undermine attempts to make it a global system.

Gerrit Zalm, the former Dutch finance minister who took over as head of the International Accounting Standards Board (IASB)...

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