Two years ago, Bob Bunting saw the writing on the wall for U.S. GAAP.As former chief executive and chairman of super-regional firm Moss Adams LLP, Bunting established resources to prepare for the reality of International Financial Reporting Standards becoming the future of financial reporting for public companies in the United States.
“We started an internal awareness program,” said Bunting, who is now the firm’s chair for its International Services Group in Seattle and deputy president of the International Federation of Accountants. “In the past two years, Canada, China, India and Korea, among many others, have begun the process of adopting IFRS. Since many of these countries have, in the past, based their standards on GAAP, this is another important signal about where things are headed.”
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