The SEC Has Several Reporting Choices

question 16

Essay

The SEC has several reporting choices.It can require that U.S.companies use U.S.GAAP in their financial statement filings.Alternatively, the SEC can require or allow U.S.companies to use IFRS in their financial statement filings.Many issues and complexities surround the use of IFRS.
Required:
Identify and discuss five of the issues to be considered by the SEC in deliberating this proposal.