Progress Despite Uncertainty: Results of the AAA/KPMG Survey on Implementation of IFRS into U.S. Accounting Curricula

Abstract

This paper reports on the results of an AAA-wide survey on the state of faculty perceptions about, and actions toward, integrating IFRS into U.S. accounting curricula in a period of perceived reduction in regulatory momentum. In 2014, responses were received from 349 members representing all AAA sections. The entire dataset of surveys from 2008 to 2014 comprises 2,854 observations. Most faculty — from both accredited and non-accredited programs — now are not confident that the U.S will adopt IFRS at some point. That sentiment differs from 2011 when responses from accredited programs, either business-only or accounting, were neutral and from non-accredited programs were still confident of eventual adoption. Despite this belief, 83% of respondents continue to say it is important for faculty to teach IFRS in U.S. universities, similar to the 85% reporting this opinion in 2011. The strength of that viewpoint, however, has declined steadily since 2010 across respondents from all types of programs, accredited or not. Further, fully 21% of respondents do not believe IFRS should be integrated into the curriculum. The primary approach used is to integrate IFRS into existing courses, primarily the intermediate sequence, to the extent of one or two credit hours of coverage. Regardless of accreditation status, respondents report similar challenges to integrating IFRS as in earlier years.