In 2012 the SEC issued an extensive report regarding the use of IFRS by U.S.public companies and listed which of the following as a major obstacle to adopting IASB standards?
A)IASB standards are generally viewed as low quality.
B)IASB's dependence on funding from the major accounting firms.
C)Cross-border financing is decreasing in popularity.
D)The IASB is not a governmental agency and therefore is not positioned to develop accounting standards.

Question

Quizplus · Accepted Answer

The SEC report highlighted concerns about the IASB's reliance on funding from major accounting firms, which could affect its independence and objectivity in setting standards.

In 2012 the SEC Issued an Extensive Report Regarding the Use