In 2012 the sec issued an extensive report regarding the use of ifrs by U.S. public companies and listed which of the following as a major obstacle to adopting IASB standards

a) IASB standards are generally viewed as low quality. b) IASB's dependaence on fundding from the major accounting firms. c) Cross-border financing is decreased in popularity. d) The IASB is not a governmental agency and therefore is not positioned to develop accounting standards.