CPAs “On Hold” with IFRS

Only 13.5% are getting ready — same as May 2010.

via AICPA

The key message from the AICPA’s October 2010 IFRS Readiness Survey is that movement within the U.S. accounting profession toward IFRS has been on hold since May 2010.

Basic familiarity with IFRS has remained stable at 45 percent and the number of companies and firms actively preparing for adoption or ready for adoption has remained about the same at 13.5 percent. Thirty-eight percent of respondents indicated they are delaying implementation while waiting for SEC action.