Thursday, October 8, 2009

Deloitte Survey: Financial Execs want SEC to Move on IFRS

Financial executives are showing support for decisive SEC action in approving on the proposed IFRS roadmap.

The Deloitte survey, with over 150 financial executives participating, was conducted in September 2009.

Highlights of the survey results include:

  • 70% of respondents indicated approval for the SEC’s proposed roadmap
  • 51% responded that the SEC should approve the proposed roadmap, but consider pushing back the mandatory deadline a year
  • 19% responded that the SEC should approve its proposed roadmap “as is.”
  • 45% of respondents selected “delay in the finalization of the SEC’s roadmap” in characterizing the reason why their companies’ IFRS assessment plans may have been delayed
  • 9% of respondents identified “economic challenges or constraints” as the reason for delaying an IFRS assessment.
  • 34% of survey participants indicated IFRS adoption would make the U.S. more competitive in the global marketplace
  • 38% responded that IFRS adoption would not

Survey Results

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