| International Financial Reporting Standards (IFRS) have gained worldwide acceptance. The Securities and Exchange Commission issued a proposal on IFRS use. Most certified public accountants (CPAs) in the United States lack IFRS education and work experience. Lack of IFRS knowledge may hinder financial reporting quality and timeliness, and global competitiveness of United States businesses. The purpose of the quantitative descriptive study was to (a) identify CPAs' perceived IFRS continuing professional education (CPE) needs, (b) identify CPAs' attitudes toward IFRS, and (c) examine how needs and attitudes differ based on personal characteristics. Every member of the Louisiana Society of CPAs was invited to participate in a survey; 436 members responded. Most needed CPE topics were IFRS basics and first-time adoption, IFRS financial statement preparation and presentation, and IFRS for small- and medium-sized entities. Least needed were specialized and advanced topics, foreign currency transactions and financial statement translation, and IFRS technical update. Participants disagreed about whether the United States should adopt IFRS, but agreed IFRS would be adopted. Participants indicated IFRS would improve financial reporting and comparability and most of their work would be unaffected. Using chi-square, significant differences in need for one or more CPE topics were revealed based on employment sector, frequency of professional interaction, prior IFRS training and experience, size of employer, and years of experience, with p values from < .001 to .046 Significant differences existed in one or more attitude variables based on education level, prior IFRS training and experience, size of employer, and years of experience, with p values from < .001 to .050. For example, participants with prior IFRS training indicated need for CPE on fair value accounting under IFRS more frequently than others did (chi2(4, N = 378) = 28.86, p < .001) and had stronger opinions regarding whether IFRS would improve financial reporting and comparability (chi 2(8, N= 424) = 20.89, p =.007). Using findings from the study, CPE providers may target offerings for greatest benefit. Professional experiences, contacts, and exposures affect attitudes toward change. Future research should examine changes in attitudes and need for IFRS education, and reporting quality after IFRS. |
