Question
Beginning in 2008, the Securities and Exchange Commission of the United States began to accept financial statements from Foreign Private Issuers prepared according to International
Beginning in 2008, the Securities and Exchange Commission of the United States began to accept financial statements from Foreign Private Issuers prepared according to International Financial Reporting Standards without reconciliation to US GAAP. What factors drove this change? What evidence exists of the effect of differences in disclosure requirements on the decision to list on foreign stock exchanges? Do you think foreign companies should be allowed to enter your countrys capital market on the basis of their home country financial statements? Explain.
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