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Why Is the SEC, Once So Reluctant to Accept IAS

question 13

Essay

Why is the SEC, once so reluctant to accept IAS, now very willing to allow firms using IFRS to is-sue issue securities in the U.S.stock market without reconciling to U.S.GAAP?


Definitions:

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from reality and personal relationships into fantasy and delusion, and a sense of mental fragmentation.

Depression

A common and serious medical illness that negatively affects how one feels, thinks, and acts, characterized by feelings of sadness and/or a loss of interest in activities once enjoyed.

Schizophrenia

A mental disorder characterized by abnormal behavior, strange speech, and a decreased ability to understand reality.

Psychiatric Hospital

A psychiatric hospital is a specialized medical facility dedicated to the treatment, care, and support of individuals with mental health disorders.

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