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The American Institute of CPAs has recommended that publicly held companies in this country be given the option of adopting International Financial Reporting Standards. The organization made its opinion known in a letter to the Securities and Exchange Commission.
They also saw an advantage in that American companies could compare those that use IFRS and those that do no not. "Anecdotal evidence suggests that the number of companies that would choose such an option would not be such that system-wide readiness would become an issue," the statement said.
