The shift to International Financial Reporting Standards (IFRS) is both appropriate and, in any event, ineluctable. It is appropriate because our markets today, more than ever before, are truly global. Investors worldwide need to be able to compare companies across the board, and disparities in accounting conventions will only create major traps for the unwary. It is ineluctable because the SEC has wisely recognized the need for a uniform global standard and has paved the way toward the achievement of such a standard.
