What are Canadian companies whose shares trade on U.S. stock exchanges required to do?
A) Provide two sets of Financial Statements -- one under Canadian GAAP and one under U.S. GAAP.
B) Present reconciliations from Canadian GAAP to U.S. GAAP in the footnotes to their financial statements.
C) File reports using either IFRS or US GAAP.
D) Revalue their assets using the lower-of -cost-and-market principle.

Question

Quizplus · Accepted Answer

Canadian companies trading on U.S. exchanges must file reports using either IFRS or US GAAP, as both are accepted by the SEC.

What Are Canadian Companies Whose Shares Trade on U