With the convergence projects over the last few years, the remaining differences are fairly small and, even then, only an accountant might understand or appreciate the reporting subtleties that result.  Will mezzanine presentations confuse? Will anyone care if they do?

Switching to IFRS may help prevent the politicization of accounting standards and hopefully forestall future efforts to legislate GAAP – recall the misguided efforts to stop expensing of stock options and the lobbying of banks who wanted to stick their collective heads in the sand when it came to writing down CDOs. IFRS Rule 9 aside, the invisible hand will not be fooled. Continue reading →