Which of the following is not a concern regarding IFRS adoption by the U.S.?

Multiple Choice

• Geographic dispersion of standard setters make it unlikely that boards can interact to achieve consensus.

• The high costs to companies of converting to IFRS.

• The fact that many laws, regulations and private contracts reference U.S. GAAP.

• Need for the U.S. to have strong influence on the standard-setting process and ensure that standards meet U.S. needs.