The United States Securities and Exchange Commission
A) has recognized IASB standards as an acceptable alternative to U.S.GAAP.
B) requires foreign companies listing their shares on U.S.stock exchanges to restate their financial statements to U.S.GAAP.
C) has barred foreign companies from listing their shares on U.S.stock exchanges.
D) has no jurisdiction in the United States over foreign companies listing their shares on U.S.stock exchanges.

Question

Quizplus · Accepted Answer

The SEC requires foreign companies listing their shares on U.S. stock exchanges to restate their financial statements to U.S. GAAP.