CIO Research Library

Securities and Exchange Commission's (SEC's) proposed road map for a mandatory transition to International Financial Reporting Standards (IFRS) starting with fiscal years ending on or after December 15, 2014, has made it all the more urgent for U.S. companies to consider IFRS' impact on their business. Our latest white paper on this topic, "The IFRS Center of Excellence," discusses how the global movement toward IFRS offers companies the chance to significantly improve efficiency and reduce financial reporting costs by placing IFRS reporting in a shared environment, or "Center of Excellence" (CoE). In addition to its cost-saving potential, an IFRS CoE can help improve the quality and consistency of financial reporting. Topics discussed include: The benefits of an IFRS CoE; The responsibilities of an effective IFRS CoE; Caveats and considerations for setting up a shared environment for IFRS reporting.