Transitioning to a new accounting system would not be easy and the practice would require a significant amount of time to complete, but I agree that the US should transition to a more globally accepted financial standard. You make mention of errors and becoming more efficient and I believe that by going with a global standard, the ability to evaluate, audit and verify data would be simplified. It also allows better transparency when majority of financial experts understand the reporting standards and the core principles behind the IFRS (Young et al, 2019).

Young, S. D., Cohen, J., & Bens, D. A. (2019).Corporate financial reporting and analysis: A global perspective(4th ed.). Wiley