In 2012 the SEC Issued an Extensive Report Regarding the Use

Multiple Choice

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.