Final answer:
The statement that IFRS has established minimum requirements for interim financial reporting, as opposed to U.S. GAAP, is true. IFRS demands detailed explanations on significant events affecting financial positions, unlike U.S. GAAP which is less specific.
Step-by-step explanation:
The statement that IFRS establishes presentation minimums for interim financial reporting while U.S. GAAP does not, is True. IFRS requires entities to include in their interim financial reports an explanation of events and transactions that are significant to an understanding of the changes in financial position and performance of the entity since the last annual reporting period. U.S. GAAP, on the other hand, is less prescriptive about the content of interim financial reports, although public companies are required to file quarterly reports that include certain financial statements and disclosures.