Nearly half of US CPAs have a basic knowledge
of IFRS, indicating a growing awareness of the global standards
within the US profession.

An AICPA survey of 3588 accountants found 47%
of CPAs have a basic knowledge of IFRS, which is up 8% since
October 2008.

Nearly a quarter of CPAs expect they will need
advanced knowledge on IFRS in the coming years and 7% believe they
will gain this knowledge.

“We see clear evidence in our survey that CPAs
in the US are not only increasingly aware of IFRS but also
significant numbers are beginning to recognize a need to gain
advanced and expert knowledge,” said Arleen Thomas, AICPA senior
vice president for member competency and development.

Forty-two percent of respondents believe the
SEC should require adoption of IFRS for US public companies, but
only after more convergence of IFRS with US GAAP. Another 18
percent support US adoption outright while only 6 percent believe
IFRS should not be mandated for US issuers. 

There is uncertainty on IFRS for SMEs, with
about half of respondents unsure on whether they should advise
clients to adopt IFRS for SMEs.

The AICPA survey was conducted during April
and May.