In $2007,$ the SEC eliminated the requirement for companies that issue stock in the United States to include in their financial statements a reconciliation of IFRS to U$.$S$.$ GAAP. $($Enter only one word.$)$

The International Accounting Standards Committee $($IASC$)$ reorganized in $2001$ to create a new standard$-$setting body called the International Accounting Standards Board $($IASB$).$ The IASB issues global accounting standards called

International Accounting Standards

Global Financial Reporting Standards

International Financial Reporting Standards

European Accounting Standards