ACC 844

Research Assignment

• Article #1: The speech of the current IASB Chairman

Hans Hoogervorst, the Chairman of the International Accounting Standards Board (IASB) is deeply convinced that international convergence of accounting standards between the IASB and the Financial Accounting Standards Board (FASB) will happen in the future. In his first speech in the United States, he addressed several reasons why the US should adopt International Financial Reporting Standards (IFRS) in the following.

First, lack of transparency is one of the significant reasons that the US should adopt IFRS. Lack of transparency will cause a deficit of relevant and reliable accounting information and also cause the potential for inconsistencies. As Hoogervorst mentioned in his speech, the financial...