臺大管理論叢 NTU Management Review VOL.30 NO.2

The Effects of Relaxing the Reconciliation Requirement in Foreign Private Issuers’ SEC Filings on Earnings Management Strategies: IFRS Adopters versus U.S. GAAPAdopters 114 28 The Canada-U.S. Multijurisdictional Disclosure System (MJDS) permits large Canadian firms to file annual reports on Form 40-F, which must be filed on the same day as the annual information form due to any securities commission or equivalent regulatory authority in Canada (Torys, 2009). reports 60 days, 75 days, and 90 days, respectively, after their fiscal year-end. Foreign private issuers may file annual reports via Form 20-F within four months after their fiscal- year-end. 28 A greater portion of IFRS adopters relative to U.S. GAAP adopters permitted to apply the more lenient deadline for furnishing annual reports probably explains why we observe the sequential decision process only in the IFRS control sample.