This applies in particular to European business entities listed in the US that have decided to prepare US GAAP consolidated financial statements. However, the complex regulatory measures of the US supervisory authority SEC with regard to disclosure or enforcement also apply to business entities listed in the US that apply IFRS. US GAAP also affects business entities that, as a subsidiary of a US company, have to report according to these standards. The requirements arising from the US regulations can only be managed with detailed and always up-to-date knowledge.
KPMG in Germany has many years of extensive experience in the SEC environment and in US GAAP accounting. Our specialists are happy to help you.
Due to the convergence of standards systems sought by the IASB and FASB, US GAAP also indirectly has a strong influence on the further development of IFRS.
On the KPMG IFRS Institute website, you can keep up to date with the current status of the US GAAP/IFRS convergence project of FASB and IASB.
