IFRS Considerations for Audit Committees
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The strong global movement toward International Financial Reporting Standards (IFRS) and recent Securities and Exchange Commission (SEC) activity have created a need for audit committees and company management to discuss the potential costs, benefits and other effects of a transition to IFRS. Because audit committees have a fiduciary responsibility to protect the interest of shareholders and oversee the integrity of the company’s financial reporting process, their involvement in the transition to IFRS is essential. This publication is designed to assist audit committee members in preparing for meaningful and effective conversations about IFRS, and includes:
•A high-level overview of IFRS accounting requirements and potential IFRS–U.S. Generally Accepted Accounting Principles (GAAP) differences
• Implementation considerations
• Key questions audit committees should ask
Download the publication to learn more.
To learn more about IFRS, GAAP vs. IFRS, international accounting developments and financial services, visit www.deloitte.com/us/IFRS .