CFOs Not Ready For International Standards

More than half of all CFOs interviewed for a recent survey said they were not familiar with how International Financial Reporting Standards could impact their companies.

The survey was conducted by Robert Half Management Resources, an international employment agency. Robert Half said that while the United States isn't likely to adopt IFRS in the next few years, those standards are becoming more prevalent around the world as economies globalize.

When asked how IFRS would impact their companies, 43 percent of American CFOs interviewed said they were not familiar at all with how international standards would affect them. Another 12 percent said they were somewhat unfamiliar with the standards and how they would affect their companies.

Robert Half said companies should prepare for the new accounting standards by developing action plans and beginning training efforts.