Which of the following is not a concern expressed by the SEC regarding IFRS adoption by the U.S.?
A) Need for the U.S. to have strong influence on the standard-setting process and ensure that standards meet U.S. needs.
B) The language barriers associated with cooperation among many countries in developing IFRS.
C) The high costs to companies of converting to IFRS.
D) The fact that many laws, regulations and private contracts reference U.S. GAAP.

Question

Quizplus · Accepted Answer

While language barriers may be a practical concern for international cooperation and communication, it has not been specifically cited as a concern by the SEC regarding IFRS adoption by the U.S. The other options have been noted as potential obstacles to full adoption of IFRS.

Which of the Following Is Not a Concern Expressed by the SEC