In its Final Staff Report (issued in 2012), what type of convergence between U S GAAP and IFRS did the SEC staff argue was not feasible What reasons did the SEC staff give for that conclusion ...

The SEC staffs Final Staff Report concludes that it is not feasible for ...

In its Final Staff Report (issued in 2012), what type of convergence between U.S. GAAP and IFRS

Question:

In its Final Staff Report (issued in 2012), what type of convergence between U.S. and IFRS did the SEC staff argue was not feasible? What reasons did the SEC staff give for that conclusion?
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...