What Monumental Decision to Change the Requirements for Foreign Registrants

question 21

Multiple Choice

What monumental decision to change the requirements for foreign registrants and their reporting in the U.S. under certain circumstances did the SEC make in 2007?

• A) Foreign registrants could use IFRSs in preparing their financial statements without providing a reconciliation to US GAAP.
• B) Foreign registrants must report under U.S. GAAP.
• C) Foreign registrants may report under IFRS as long as they provide a reconciliation to U.S. GAAP.
• D) The SEC has no jurisdiction over foreign registrants.

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Definitions:

Vision Statement

A declaration of an organization's long-term goals and aspirations.

Achievements

Significant accomplishments or milestones reached by an individual or organization.

Core Values

Fundamental beliefs or guiding principles that dictate behavior and action within an organization, influencing its culture and decision-making.

Marketing Strategy

A comprehensive plan formulated by a business to achieve its marketing objectives, usually involving methods to target and retain customers.