US Investors Need Ways To Go To Adopt With The IFRS
The US investors will need some more time to get accustomed to the IFRS guidelines. A report from ACCA said.
The US investors are not getting acquainted with the norms of the IFRS and it proves a big challenge to them. The Association of Chartered Certified Accountants had made the radical statement in the press. The devastating reports say that the US investors need more training and staff requirement for coming to terms with the IFRS. According to a report published by 500 investing companies in the USA, the SEC will have to report one day to IFRS. Maximum number of investors have disagreed with the proposals made so far because it will procure more costly terms to the company which they are very unlikely to dispense.
Sue Almond, the technical director of ACCA commented that the investors should invest some money to follow the guidelines of IFRS in order to follow the corporate world nowadays. Among the major challenges which are faced by the investors of US is that they believe it will take four and a half years for the maximum number of companies to be market ready. The awareness which is available among the US market investors about IFRS is very low. A person named Hans Hoogervorst, the chairman of the IASB noted that the ACCA is very consistent about its findings in the community of investors in the market.
As far as the legal market is concerned, following the rules and regulations of IFRS is very popular in the global market and the US people are very ready for it. It will be the mandatory guideline of all US investors in the next 15 years. There are some states in the USA which has given these rules and regulations too much autonomy. And these countries truly operate the rules and regulations independently and they are not concerned with the laws pertaining to the other parts of the USA. The first thing which the US investors should do is to make a harmonization with the so called laws of the IFRS. In order to achieve the accounting and legal patterns of the IFRS one should always keep in mind the appropriate legal issues and the cyber laws in a particular country.