The Securities and Exchange Commission (SEC)has proposed a set of rules that would ultimately require U.S.companies to use international financial reporting standards. Why?

Question

Quizplus · Accepted Answer

All of the given options are true. With increasing global business, there is a need for consistency in financial reporting standards. More than 100 countries such as Australia, Canada, and China already use international financial reporting standards, making it a familiar framework for many multinational companies. Adopting these standards will also make it easier for foreign companies to invest in the United States since they will be more familiar with the accounting rules.

The Securities and Exchange Commission (SEC)has Proposed a Set of Rules