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 is dependent 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 it is not positioned to develop accounting standards.

Question

Quizplus · Accepted Answer

The SEC report highlighted concerns about the IASB's funding and governance, including its reliance on contributions from major accounting firms, as a significant obstacle to adopting IFRS.

In 2012 the SEC Issued an Extensive Report Regarding the Use