Replies to post #118912 on DD Support Board and Research Team

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But as you stated, some Canadian issuers that have SEC registrations and trade in the US use US GAAP. But it is typically only companies that either have the majority of their operations in the US and/or sell products denominated in US dollars. It is very uncommon for smaller Canadian issuers to do so, especially since they can use the US dollar as their functional currency and still use IFRS.

Had the luxury of decoding a $300 million currency translation discrepancy in software of a $5 Billion acquisition by a $100B/yr European company US GAAP to IFRS consolidation.

I cannot imagine a small Canadian issuer can afford to report in USD and use IFRS.

Maybe they fall below 5% and the auditor blows it off as immaterial.

I do know a few auditors that want numbers to match to the penny. And I mean to the penny as Excel sometimes can be a penny off, and issuers use Excel.