Ian Mackintosh, chairman of both the Accounting Standards Board in the U.K. and the National Standard-Setters Group, urges the U.S. to implement International Financial Reporting Standards. He explains how the change will affect U.S. companies, how it has affected entities in Europe and the benefits of making the shift. He also acknowledges that it is inconceivable to have global standards without the U.S. on board. "What is not to like about the prospect of being an influential player in the international movement, as well as continuing to fulfill an important role at home?" he asks.

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