IFRS is used in over 100 countries. Parts of it's implementation are left to the individual countries, but the US is the only country to use GAAP. Every country

IFRS is used in over 100 countries. Parts of it's implementation are left to the individual countries, but the US is the only country to use GAAP. Every country has some room for individual regulstion of the financial standards of course, but that doesn't make, say, dutch securities less inherently trustworthy than US securities because they don't report on a GAAP basis.