Transatlantic strain still threatens global accounting standards. By Alan Shipman
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.