Ericsson, the Swedish MNE, was required as of 2005 to adopt both Swedish and U.S.GAAP since it lists it securities in both the United States and Sweden.

Question

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As of 2005, companies listed in the United States, including Ericsson, were required to report their financial statements in accordance with U.S. GAAP or reconcile their financial reports to U.S. GAAP if they were using International Financial Reporting Standards (IFRS), not specifically Swedish GAAP.

Ericsson, the Swedish MNE, Was Required as of 2005 to Adopt