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Ethical And Legal Obligations 4

Ethical and Legal Obligations

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Title: Ethical and Legal Obligations

Essay Details:

Subject: Business

Author: James L

Date: May 17, 2016

Level: University

Grade: A

Length: 4 / 1138

Essay text:

Companies have an ethical and legal obligation to financial reporting. To ensure correct reporting is followed, several agencies are employed to regulate business. The Financial Accounting Standards Board, FASB, Securities and Exchange Commission, SEC and Public Company Accounting Oversight Board, PCAOB, are all agencies involved in promoting fair accounting principles for United States businesses. The most commonly known regulating agency is the SEC. It is the government ruling agency that oversees accounting for publicly traded companies in the United States. This agency was created in 1934 in response to the events which lead to the Great Depression...

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