When did the SEC drop its longstanding rule that required foreign companies that filed financial statements with it to adjust those statements to conform with U.S.GAAP and allow them to use IFRS?
A)2001
B)2007
C)2009
D)2016

Question

Quizplus · Accepted Answer

In 2007, the SEC dropped its longstanding rule that required foreign companies to adjust their financial statements to conform with U.S. GAAP, allowing them instead to use International Financial Reporting Standards (IFRS).

When Did the SEC Drop Its Longstanding Rule That Required