Question
14. The SEC has lifted its requirement that foreign companies, which have used IFRS as the basis for preparing their financial statements, must reconcile their
14. The SEC has lifted its requirement that foreign companies, which have used IFRS as the basis for preparing their financial statements, must reconcile their financial statements using U.S. GAAP in order to be eligible to list their shares on U.S. stock exchanges.
Required: Discuss the possible reasons for this relaxation of rules.
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Governmental And Nonprofit Accounting Theory And Practice
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
9th Edition
0132552728, 9780132552721
