Which of the following is an accurate representation of the current environment for global accounting standards? All SEC registrants whether foreign or domestic must use US GAAP Currently, full convergence between US GAAP and IFRS is expected in the near future. China and India are examples of countries that do not require IFRS reporting standards for domestic public companies as of July 2020 IFRS is required for public companies in every country across the globe, but is optional for non-public entities Which of the following is an accurate representation of the current environment for global accounting standards? All SEC registrants whether foreign or domestic must use US GAAP Currently, full convergence between US GAAP and IFRS is expected in the near future. China and India are examples of countries that do not require IFRS reporting standards for domestic public companies as of July 2020 IFRS is required for public companies in every country across the globe, but is optional for non-public entities