Nearly half of the nation's chief financial officers and senior controllers polled by global CPA and business advisory firm Grant Thornton say that the U.S. should not adopt international Financial Reporting Standards until after U.S. GAAP and IFRS have converged to the point where the differences are inconsequential - a time frame of between five to seven years.

Meanwhile, 27% of those participating in the recent survey said that IFRS should never be used, and 24% indicated that IFRS should be adopted as soon as possible - between two and five years.

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