CFOS LACK EXPERIENCE WITH IFRSChicago — Nearly 75 percent of CFOs and senior comptrollers have no experience using International Financial Reporting Standards, while 55 percent are unfamiliar with the Extensible Business Reporting Language, according to a new survey by Grant Thornton.
The findings identify an experience gap that will pose a challenge for the Securities and Exchange Commission as it seeks to promulgate new rules requiring U.S. companies to prepare financial statements in accordance with IFRS, and phasing in the adoption of XBRL by issuers.
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