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Drexel Accounting Professor Available to Comment on U.S. Adoption of IFRS Accounting Standards

Philadelphia, December 16, 2008

Drexel University’s Dr. David Campbell, a professor at the University’s LeBow College of Business is available to comment on the challenges and opportunities presented by the Securities and Exchange Commission (SEC) roadmap for U.S. companies to adopt IFRS accounting standards. While the SEC is awaiting comments to its IFRS Roadmap Release due February 19, as well as the arrival of the new Obama Administration in January, Campbell can discuss why it is imperative for companies to consider steps they can take now toward IFRS implementation: -How to compare “rule-based” U.S. GAAP to “principles-based” IFRS accounting standards -Why standards reporting may be the easiest part of the transition to IFRS -The challenges presented by global cultural differences—including legal, regulatory, ethics-related, and training and education issues -Whether or not the transition to IFRS—which provides less formal guidance—increases the importance “of an appreciation and adherence to sound business ethics by those setting and applying accounting policies, the auditors of the financial reports generated in an IFRS environment, and the users interpreting the results.” A leading expert on IFRS who worked in Europe with Ernst & Young during the period of transition to IFRS from national GAAPs, Campbell can speak about the pros and cons of U.S. adoption of IFRS standards from personal experience as well as from an academic perspective. He recently had an article accepted for publication in the Journal of Accountancy about the momentum that has been building for global standards convergence now that over 100 countries have more or less adopted IFRS, with the U.S. taking steps toward convergence. ***To schedule an interview with Dr. Campbell, contact LeBow College of Business at 215.895.2897. *** ### News Media Contacts: Lisa Litzinger, LeBow College of Business 215.895.2897 or lml64@drexel.edu Niki Gianakaris, University Relations 215-895-6741 or ngianakaris@drexel.edu