Are additional laws likely to prevent corporate collapses

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Reference no: EM132716635

Question: 1. Provide an argument for the regulatory approach to standard setting, then,provide an argument for the free-market approach to standard setting. Finally, analyze the arguments and conclude in favor of one approach rather than the other (which approach you favor is up to you, but you must decide which which approach is better, at least under a set of assumed circumstances).

2. If the International accounting standard board concludes that the economic consequences of a standard it is about to approve will disadvantage a powerful lobby group, what should the IASB do a bout the situation?

3. The setting of accounting standards requires some assessment of economic and other benefits and costs. What are the ethical issues involved? Is it possible to avoid ethical issues in developing accounting standards?

4. In 2001 and 2002 there were several high-profile corporate collapses in the United States associated with misleading financial statements and accounting practices. Following these collapse, new laws were introduced to improve the quality of financial reporting.

(a) In your opinion, will further regulation prevent deliberately misleading reporting? Explain.

(b) Are additional laws likely to prevent corporate collapses? Why or why not?

Reference no: EM132716635

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