Financial reporting column on IFRS.

• Author: Nurnberg, Hugo
• Position: LETTERS TO THE EDITOR - Letter to the editor

Dear Mr. King:

I liked your article in the July/August issue of Financial Executive ("Adopt IFRS? Not in the Best Interest of the U.S., Says This FEI Member"). I liked the questions you raised and your discussion of the benefits of U.S. GAAP. I, too, am very skeptical about the benefits of switching from GAAP to IFRS. I plan to include your article in assigned readings in both introductory and advanced accounting courses.

Unfortunately, I don't think that a resolution of GAAP vs. IFRS (or any other issue) will be forthcoming from a complete independent study [i.e., research] or from a vote by financial report users. I'm especially skeptical of the outcome of any research on this issue. Most research efforts to date are contradictory and...