SOURCE: Marks Paneth & Shron LLP

Marks Paneth & Shron LLP

May 18, 2010 10:54 ET

Marks Paneth & Shron Makes the Case for US Adoption of International Financial Reporting Standards (IFRS) in Article Published by ExecutiveView

NEW YORK, NY--(Marketwire - May 18, 2010) -  Steven L. Henning, Ph.D, CPA, Partner-in-Charge of the Litigation and Corporate Financial Advisory Services Group at Marks Paneth & Shron LLP, has published an article in ExecutiveView urging US companies to cease resistance and move forward with the adoption of International Financial Reporting Standards (IFRS) in order to participate in global financial uniformity. 

In the article, Mr. Henning explains:

  • Reasoning for the expansion of IFRS adoption around the globe.
  • Why IFRS rejection in the US could be a detrimental mistake.
  • The challenges that businesses, both public and private, may face when converting to IFRS -- and why it is still worth the effort.
  • Why IFRS is regarded as the "gold standard" to investors, regulators and other stakeholders.
  • How resistance to convert to IFRS will likely damage companies, exchanges and the US economy.

The full text of Steven Henning's article can be found at in the Marks Paneth & Shron Library.

To speak with Steven Henning about issues related to IFRS and why adoption is critical, please contact Itay Engelman of Sommerfield Communications at 212.255.8386 or via email at itay@sommerfield.com.

About Marks Paneth & Shron

Marks Paneth & Shron LLP is an accounting firm with nearly 475 people, of whom 64 are partners and principals. The firm provides businesses with a full range of auditing, accounting, tax, bankruptcy and restructuring services as well as litigation and corporate financial advisory services to domestic and international clients. The firm also specializes in providing tax advisory and consulting for high-net-worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional and financial services and energy clients. Visit www.markspaneth.com for more information.

About Steven Henning

Steven L. Henning, Ph.D., CPA, is the Partner-in-Charge of the Litigation and Corporate Financial Advisory Services Group at Marks Paneth & Shron LLP. He has more than 20 years of experience in public accounting, securities litigation, consulting related to US Generally Accepted Accounting Principles (US GAAP), International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) as well as teaching at the university level.

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