Which of the following is not a true statement?

The SEC allows Foreign Private Issuers whose stock is publicly traded in the U$.$S$.$ to use IFRS rather than U$.$S$.$ GAAP.

The SEC's Office of the Chief Accountant monitors standard setting by the IASB, and retains an oversight function over the

FASB's standard setting activities.

As part of the FASB's due process in setting standards, an Exposure Draft must be issued to seek stakeholder input.

As part of the FASB's due process in setting standards, a Discussion Paper must be issued.