Some analysts believe that by accepting the IFRS, it will be more difficult for investors to compare the foreign companies with domestic companies using the GAAP system. Formal adoption of the change will come after a public comment period, and would apply to 2008 reports. AP has more.
Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.