JAPAN’S ADOPTION OF IFRS COULD MAKE OR BREAK GLOBAL STANDARD
May 1st, 2010
BY KARRYN MILLER
AS one of the world's leading economic powers, Japan will be in a unique position if it adopts, as planned, international financial reporting standards (IFRS). If successful, on one hand, it could give the US the final push it needs to dovetail its financial reporting with global accounting standards; on the other, if things don't work out, America may retreat back towards US GAAP.
"If Japan were to adopt IFRS it would be a significant milestone in the adoption of IFRS worldwide," said Frank Bollmann, managing director for Duff & ...
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