When developing local Generally Accepted Accounting Principles (known as local GAAP) some countries start with International Financial Reporting Standards (IFRSs) which are then amended to reflect local needs and conditions.

When developing local Generally Accepted Accounting Principles (known as local GAAP) some countries start with International Financial Reporting Standards (IFRSs) which are then amended to reflect local needs and conditions.

This type of approach is classified as:
A . Adoption of IFRSs as local GAA
C . Using IFRSs as a model for local GAA
E . IFRSs having a persuasive influence in formulating local GAA
G . IFRSs having little or no impact in formulating local GAA

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Answer: B