Commentary on Prospects for Global Financial Reporting

21 Pages Posted: 25 Mar 2015

See all articles by Mary E. Barth

Mary E. Barth

Stanford University - Graduate School of Business

Date Written: March 24, 2015

Abstract

This commentary reviews the status of the global use of International Financial Reporting Standards (IFRS), including in the US, and offers thoughts on prospects for global financial reporting. Many countries require or permit the use of IFRS, but the goal of truly global, high quality financial reporting has not yet been achieved. Variation in application and enforcement of the standards and scope for improving them remain. However, it would be premature to abandon the goal thereby forgoing the potential benefits it promises. Rather, we should develop plans for the next phase of the journey towards global financial reporting.

Keywords: IFRS, global financial reporting, US SEC, capital markets

JEL Classification: E61, F02, G15, M40

Suggested Citation

Barth, Mary E., Commentary on Prospects for Global Financial Reporting (March 24, 2015). Stanford University Graduate School of Business Research Paper No. 15-22, Available at SSRN: https://ssrn.com/abstract=2584546 or http://dx.doi.org/10.2139/ssrn.2584546

Mary E. Barth (Contact Author)

Stanford University - Graduate School of Business ( email )

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Stanford, CA 94305-5015
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650-723-9040 (Phone)
650-725-0468 (Fax)

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