Savvy firms bulk up on new expertise. Now is the time to gain the competitive advantage, according to Cecil Nazareth, CPA and CA, at IFRS Partners. As U.S. GAAP and IFRS move inexorably toward convergence, Nazareth tells firms “you can market yourself across the globe if can practice both GAAP and 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.
Defends “the vital but sometimes overlooked field of accounting.” Pledging global accounting convergence — someday — SEC chairman Mary Shapiro today sought to “re-affirm our dedication to developing a single set of high-quality, globally-accepted accounting standards.” And she addressed three criticisms of the agency, which she called “myths:” Myth #1: The SEC’s commitment to global accounting standards is not as strong as it should be. Myth #2: The U.S. may be committed, but it’s dragging its feet regarding adoption of IFRS. Myth#3: The United States is fixated on process. For the details, here’s the full text of SEC chairman Mary L. Schapiro’s remarks at the CFA Institute 2010 Annual Conference, Boston, Mass., via videoconference:
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Thomson Reuters’ Jack LaRue says many accountants may be intimidated by the rate of change in technology. As a result, they do nothing. Here, LaRue explains a simple first step to get started. When Jack talks, people listen. He has more than 25 years of marketing and sales experience. Prior to joining Thomson Reuters, Jack headed business-to-business marketing at FTD, the trail-blazing florist delivery service. Jack joined Thomson Reuters in 1993 when his unit was still Creative Solutions. Eventually he rose to vice president of sales and marketing for the whole tax and accounting business of Thomson Reuters.
Creator of famed Accountants Relief brings the latest technology to market. Always on the leading of technology for accountants, the president of AccountantsWorld explains the cloud and SaaS computing in the simplest, clearest way we’ve ever heard. We caught up with him at the New York Accounting Technology Show.
Despite the uncertainty about timetables and roadmaps. In a Grant Thornton survey of senior financial executives, 26% say their companies are already using XBRL and 16% say they’re on board with IFRS.
