TY - JOUR AB - Purpose– The purpose of this paper is to provide an updated picture of the convergence process between International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (US GAAP), with IFRS clearly emerging as a global financial reporting benchmark. This study is aimed at evaluating the main benefits but also some significant issues arising from the adoption of a single set of accounting standards. Design/methodology/approach– The main examples of theoretical and empirical literature for and against IFRS implementation are reviewed. Findings– Since markets became increasingly global, the comparability of financial statements is required to enable better corporate communication and transparency to the advantage of all stakeholders. The main difficulties of IFRS adoption by the USA are explored. Practical implications– The study’s implications are to emphasize the practical obstacles to resolving the issues of financial communication through a uniform set of standards, by highlighting the importance of taking into account other dynamics in improving the corporate disclosure domestically and globally. Originality/value– The key contribution of this study is to reflect on the best ways to reach global communication without sacrificing the effectiveness and affordability of financial reporting. VL - 21 IS - 2 SN - 1356-3289 DO - 10.1108/CCIJ-06-2015-0034 UR - https://doi.org/10.1108/CCIJ-06-2015-0034 AU - Angeloni Silvia PY - 2016 Y1 - 2016/01/01 TI - Cautiousness on convergence of accounting standards across countries T2 - Corporate Communications: An International Journal PB - Emerald Group Publishing Limited SP - 246 EP - 267 Y2 - 2024/03/29 ER -