Miami Dade College The future of IFRS in Japan Discussion

Read “New IASB Leader Embraces Challenges” which can be accessed through the online library. Choose a country that has already adopted IFRS. In 2-3 pages (12-pt type, double-spaced) answer the following questions:

1. Describe the process that your selected country went through to adopt IFRS, such as how long it took for the country to fully adopt IFRS.
2. Did the country adopt IFRS or did they make changes to IFRS to adapt to their country’s culture or regulations?
3. Has IFRS adoption made it easier for companies in that country to access the capital markets?
4. Based on your research regarding your selected country, should the US SEC mandate adoption of IFRS? Why or why not?
5. What is your personal opinion regarding whether the US SEC should mandate the adoption of IFRS?

Lamoreaux, M. G. (2011). New IASB Leader Embraces Challenges. Journal of Accountancy, 212(3), 30–33. Available from: Business Source Complete, Ipswich, MA. AN – 65110779