Audit Risk And IFRS: Does Increased Flexibility Increase Audit Risk?
- ASU Author/Contributor (non-ASU co-authors, if there are any, appear on document)
- Dr.. Ken S. Brackney, Professor (Creator)
- Institution
- Appalachian State University (ASU )
- Web Site: https://library.appstate.edu/
Abstract: Recent developments suggest that the United States may be quickly moving toward adopting International Financial Reporting Standards (IFRS). In November 2007, the SEC eliminated the requirement for foreign registrants who submit financial statements in accordance with IFRS as issued by the International Accounting Standards Board (IASB) to reconcile their statements to U.S. GAAP. In May 2008, the AICPA voted to add the IASB to the approved list of accounting standards-setting bodies, effectively giving private companies the option to use IFRS.
Audit Risk And IFRS: Does Increased Flexibility Increase Audit Risk?
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Created on 3/4/2022
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Additional Information
- Publication
- Marden RE, Brackney KS. Audit risk and IFRS: does increased flexibility increase audit risk? The CPA Journal. 2009; 79(6). NC Docks permission to re-print granted by author(s). Publisher version of record available at: https://search.ebscohost.com/login.aspx?direct=true&db=edsbig&AN=edsbig.A202360793&site=edslive& scope=site
- Language: English
- Date: 2009
- Keywords
- accounting, audit risk, International Financial Reporting Standards (IFRS), United States. Securities and Exchange Commission -- Laws, regulations and rules, International Accounting Standards Board -- Laws, regulations and rules