In november 2008 the sec released its roadmap for the

Reference no: EM13593946

In November 2008, the SEC released its "Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by U.S. Issuers." The Roadmap originally proposed allowing U.S. companies that meet certain criteria to adopt IFRS on a voluntary basis several years before requiring the use of IFRS. Conglomerate Company meets the criteria for early use of IFRS. As the company's external auditor, you have been asked to provide a recommendation as to whether the company should early adopt IFRS on a voluntary basis. What are the potential benefits associated with the early use of IFRS? The potential risks? What would you recommend?

Reference no: EM13593946

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