Gearing Up for International Standards

Now that the Securities and Exchange Commission has set a 2011-2015 timetable for moving from U.S. GAAP to IFRS, representatives of the accounting profession expect to come up to speed fairly quickly. SOX 404 was absorbed in only six to nine months turnaround time, a KPMG managing partner remarked. Still, professors who teach accounting are taking it slow. Here's our story.