All of the following are potential problems with non-U. S. companies filing with the SEC except a. U.S.-based companies with subsidiaries in foreign countries have inefficiencies in financial statement preparation because they are required to use IFRS for the subsidiary and U. S. GAAP for their consolidated financial statements. b. the switch to IFRS would create a "dual-GAAP" system in the United States because of the multitude of small U. S. corporations that are not regulated by the SEC. c. U.S. companies' financial statements are different from those of the foreign companies they compete with for capital, creating difficulties for investors and creditors in comparing companies. d. U.S. companies that have subsidiaries operating in foreign countries are never required to prepare their subsidiaries' financial statements according to IFRS for local filings.