Accountancy Age ace reporter Rose Orlik reports in “IFRS: Unfit for Purpose,” that certain investors declare IFRS as unfit for investors’ purposes (gaining information to make better investment decisions).
The straw vote took place at the annual conference of the International Corporate Governance Network, located in the UK.
This is a significant development in the ongoing discussion of the ability of IFRS to guide corporate financial disclosures. Investor sentiment in the United States is decidedly anti-IFRS. Continued investor dissatisfaction with IFRS has the potential to derail U.S. adoption of IFRS.
Debit and credit – – David Albrecht