The new hires need to develop an understanding of what is happening in the international corporate accounting climate. Many countries have already made the change to IFRS. The United States is moving in that direction. It will be important for them to have a foundation to build on with regard to their future development of expertise in the area of moving or translating U.S. GAAP to IFRS.
There have been some quiet discussions that IFRS is being promoted by large international companies. These companies see the theoretical foundation of IFRS to be a benefit to them. They believe the rules are open to interpretation and like this freedom.
Individual Portion:
Make a list of 5-10 pros and 5-10 cons of implementing IFRS in the United States.