November 2009

Oetter Quoted in "Are You Worried?", Insight Magazine

Paul Oetter, Partner in Charge of Blackman's Manufacturing & Distribution Practice, was asked about potential benefits and challenges to the adoption of International Financial Reporting Standards (IFRS) in a recent issue of Insight Magazine, the official publication of the Illinois CPA Society.

Paul Oetter, senior partner with Blackman Kallick, says that for small to midsized private companies, the frustrations surrounding lack of information and clarity are even greater. “They don’t have the SEC telling them what to do; everything is much less clear for them,” he explains, adding that it’s in the best interests of a private company to wait and see what happens. “You can make a strong argument now that there is no clear benefit to adopting IFRS for private companies. Particularly as many companies battle the recession, the last thing they need to deal with is something that will take their focus off what they must do to stay profitable right now.”

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