Accounting News Roundup: IFRS Doubt; Internal Control Override Detectors; KPMG Announces New Global Appointments | 07.25.11
Doubts emerge over U.S. move to global accounting [Reuters]
Once thought inevitable, a decisive move by the United States to one-world accounting is now in serious doubt. Blame delays, shifting timelines, or huge debt and high unemployment problems in the United States’ own back yard, but the idea of a massive change in companies’ accounting framework is not the crowd-pleaser it once was. “If there was a compelling value proposition that said, ‘as a policy, this is the right thing to do,’ it would be going faster than it’s going,” said Steven Nielsen, chief executive officer of Dycom Industries.