F1 F12 PrintscScroll Pause 28. De facto harmonization refers to: A) the process of making accounting practice consistent across countries. B) the process of making accounting regulations consistent internationally. C) forcing accounting differences to be resolved through litigation. D) creating one set of accounting standards. 29. In addition to the International Accounting Standards Board (IASB), which of the following organizations which by requiring members to adopt IFRS was considered to be one of the two most important forces in efforts to harmonize accounting standards? A) U.S. Financial Accounting Standards Board (FASB) B) Apple Computers C) North Atlantic Treaty Organization (NATO) D) European Union (EU) Which of the following accurately represents the position of the United States regarding adoption of International Financial Reporting Standards: A) All companies are required to use IFRS B) Companies to use IFRS in preparing consolidated financial statements but US GAAP for parent company financial statements C) Foreign companies listed on US stock exchanges can use IFRS but US companies must use US GAAP. D) All of the above