Half of US execs want to use IFRS early-survey

* Survey shows 49 pct of execs want early IFRS adoption

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* Majority of executives want greater clarity from SEC

* Many companies already using two sets of standards

By Emily Chasan

NEW YORK, March 9 (Reuters) - About half of U.S. executives
would like to be able to move to international accounting
sooner rather than later even though U.S. regulators have not
made a formal decision to mandate a switch, according to a new
survey on Tuesday.

Last month, the U.S. Securities and Exchange Commission
said U.S. companies could start using International Financial
Reporting Standards, rather than U.S. Generally Accepted
Accounting Principles, no sooner than 2015.

The SEC's previous plan would required companies to switch
in 2014 and allowed some to do so before then.

In a survey of 2,500 executives by accounting firm KPMG LLP
[KPMG.UL], 49 percent said they would like the option to adopt
IFRS, which are already used in more than 100 countries, before
2015, if the U.S. does plan to formally make the switch.

"Many U.S. companies with subsidiaries around the world are
already using IFRS for statutory reporting," said Janice
Patrisso, partner and national IFRS leader at KPMG. "For them,
having the option to synchronize it all up front at the U.S.
company is a positive."

The SEC, which still supports the development of a single
set of high-quality global accounting rules, said it would come
up with its own "work plan" and make another decision next year
about whether the U.S. would move to IFRS. But even the 2015
date is not certain.

KPMG, which polled executives just two days after the SEC's
announcement, found the majority would also like greater
clarity on the SEC's IFRS plans.

"Generally the companies believe this is going to happen,"
Patrisso said. "Companies are saying, 'What do I have ahead of
myself?' and they are inventorying around the world where they
are already on IFRS."

Patrisso said companies with international subsidiaries
that have already made conversions to IFRS were looking at the
way those units had chosen to use the rules. They are also
preparing for changes U.S. and international accounting
rulemakers are making to converge the two sets

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