Accounting Standards
Standards Convergence: The Movement Toward International Accounting Standards
July 7, 2008
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In three years, as many as 150 countries
could be using IFRS, according to the
Chief Accountant of the SEC.
The integration of European capital markets and the rapid growth of China's economy and capital markets have increased the pressure to merge the various accounting standards of the world into one cohesive accounting standard -- a movement known in the accounting world as convergence. Perhaps no one has examined and monitored the convergence issue more than Bruce Pounder, CMA, President of Leveraged Logic, an educational products and services consulting firm in Asheville, North Carolina and author of The Convergence Guidebook.
