CFO reports the American Institute of Certified Public Accountants has proposed that U.S.-based multinational companies should have the option to adopt international financial reporting standards (IFRS).

The article quotes from a letter to the SEC from Paul Stahlin, AICPA chairman, and Barry Melancon, president and chief executive: “An adoption option would provide a level of consistency in the treatment of U.S. companies and foreign private issuers that report under IFRS that does not exist today, and would facilitate the comparison of U.S. companies that elect IFRS with their non-U.S. competitors that use IFRS.”

To read the full CFO article: click here.