Which of the following statements regarding IFRS is incorrect? Multiple Choice The SEC has expressed concern that transitioning to IFRS might be prohibitively expensive and might lessen U.S. influence over standard setting. The SEC-required Form 20-F must be filed with the SEC by foreign issuers within 30 days. The European Commission must "endorse" IFRS for required use by EU companies. All companies listed on the London Stock Exchange must use IFRS.