Securities Regulation

In: Business and Management

Submitted By conniebee411
Words 2716
Pages 11
Connie Burkey
Unit 3
Regulations in the Industry of Accounting
Research Paper
Professor Lerner

When looking at the regulations that the government has set down in the accounting sector the old saying “rules are made to be broken comes to mind. Like the rules that are created in the home or for society as a whole, government regulations are set in place to ensure that transactions are being conducted in an honest and lawful manner, and to give a sense of accountability to everyone. These laws that were created by Congress may negatively work for one party and positively affect another. In most cases these regulations are put in place to protect the investor and consumers, and to provide repercussions for a business that does not follow these regulations. Over the last few years, we have seen numerous businesses and individuals, such as Enron and Martha Stewart, who found loopholes around the government regulations that gave them the opportunity to commit the unlawful acts they were involved in. Even with all of the technologically advanced systems set in place individuals in corporate America continue to engage in scandalous behaviors. It has become increasingly obvious that the number of fraudulent activities committed by businesses is on the rise. With, the addition of globalization in the market becoming ever popular, we shall truly start to see that will bring forth cultural clashes that will bring about a new set of problems. I believe with all the different changes coming about fraudulent actions, I believe that there will be a need for stronger and more detailed regulations. The accounting industry throughout the years has been presented with numerous cases that show how important it is to create regulations to protect the consumer. In the proceeding paragraphs I will provide information of three important regulations that affect the…...

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