The American Institute of Certified Public
Accountants (AICPA) has published a document to provide awareness
of the potential impact to an organisation’s financial system when
completing an IFRS conversion project.

The AICPA document, Financial Systems
Considerations in IFRS Convergence Projects, examines:

  •       The
    background of IFRS;
  •       The IT
    impact when converting IFRS;
  •       Key
    differences between IFRS and US GAAP;
  •       Implementation considerations;
    and 
  •       A look at
    lessons learned from Europe’s experience of converting to
    IFRS.

The AICPA document forms part of a series of
IFRS resources published by the institute to help US organisations
prepare for a possible US adoption of IFRS.

The US Securities and Exchange Commission’s
(SEC) IFRS roadmap states that the SEC will decide in 2011 whether
to adopt IFRS.

Related links:


Financial Systems Considerations in IFRS Convergence
Projects

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