A. The IASB’s standards have not been widely
adopted in the European Union.
B. The IASB’s recommendations standards are
primarily based on and grow out of the GAAP of the United States.
C. The United States’ Financial Accounting
Standards Board is collaborating with the IASB to bring about convergence based
on high quality standards.
D. Throughout the 1970s, the competing standards
issued by the IASB and the International Federation of Accountants (IFAC)
discouraged early adopters.
