1. Organizing Question 1 WHY accounting? Why REGULATE accounting?
historical factors
in an age of market capitalism
Why REGULATE accounting?
Conflicting interests, whose agenda chosen?
Accounting too important to be left to the accountants.

2. Accounting as Conflict Resolution
Investors
Suppliers
Intermediaries:
Advisors, Analysts
Investment Opportunity
Managers
Auditors
Solid = resources;
dots = information
Customers

3. Organizing Question 2 Red = Public; Green = Private
HOW is accounting regulated in the United States?
Red = Public; Green = Private
Professional Organizations (AICPA)
Congress: Securities Acts of 1933 & 1934
SEC
FASB
Standards
Preparers/Assurers (Clients and firms)
Solid = legal; dots = influence

4. Organizing Question 3 How is INTERNATIONAL accounting regulated?
Stock Exchanges, IOSCO
International Accounting Bodies
IASC
IFAC
Global Trading Networks: Ix, GEM etc..

5. Organizing Question 4
How is the US Profession organized and regulated?
What key economic and political challenges does the profession face today?
Homework …. What did you find??