IFRS, or the International Financial Reporting Standards, was adopted by the European Union, leading to increased concern about what the IFRS could mean in the United States.
This video provides an overview on how the IFRS could change corporate finance for United States businesses. When the European Union adopted IFRS, the annual reports increased by approximately 56%. This leads many U.S. business owners to believe that annual reports may double due to litigation concerns regarding disclosing appropriate information on how businesses use professional judgment. Learn more about how the IFRS will lead to business outsourcing in this full clip.
If your company is looking for litigation support or business outsourcing solutions, then contact our business advisors and CPAs with Restivo Monacelli at (888) 436-1984. You can also contact us by visiting our website.