The spring 2010 AICPA IFRS Member Readiness Survey results were released. Members' familiarity with IFRS has increased since the September 2009 survey, companies continue to make progress toward adoption although a large percentage report delaying IFRS preparations until the Securities and Exchange Commission sets a date certain, and respondents believe 2015 or 2016 for first use of IFRS is feasible if the SEC decides on adoption in 2011.
In addition, a majority of respondents (53%) are aware of IFRS for Small and Medium-sized Entities, although 51% of CPAs in public practice are "unsure" about whether they would advise their clients to adopt IFRS for SMEs. A similar percentage (49%) of CPAs working for private companies indicated they were unsure about adopting it. Read the news release.
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