US GAAP is

  • Not what users want
  • Overly complex
  • Costly to implement and maintain
  • Does not represent the economics of the business or organization
  • Not prepared for technological advances (Block Chain and/or AI) nor will it ever be

Audits are

  • Disruptive
  • Time consuming
  • Expensive (both in actual cost and personnel time)
  • Not cared about