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Accounting Regulations

In: Business and Management

Submitted By jkoppelman
Words 2551
Pages 11
Corporate Scandals
And
Regulations

February 18, 2014

Introduction
In recent years there has been many different regulations that have been put into effect to avoid any more accounting scandals. Some scandals that has gotten worldwide attention would be scandals such as WorldCom, Enron and Avon. These regulations have been put in place to help investors and to prevent companies from being put in situations where a scandal could arise. Companies need to pay close attention and follow the regulations or there can be stiff penalties and consequences against both the employee and the company. There are debates on whether there should be more or less regulations regarding accounting and finance. Whether more or less regulations are put in place employees and companies need to make sure that the obey the regulations. Some of the regulations that have been put in place are the Securities Act of 1933 and 1934 and also the Foreign Corrupt Practices Act of 1977.
Regulations
I think that regulations need to be monitored and controlled better. I do not think that necessary more regulations need to be put in place. Just enacting more regulations does not do anything if they are not enforced and followed. I do not think that there is a need for more regulations but smarter regulations that are enforced. If there are too many regulations then some regulations can be overlooked which then defeats the purpose. Or if there are too many regulations people cannot keep track of them all, depending on how specific some regulations could get. Which then this could also cause conflict with people not complying correctly. I believe that regulations are important to ensure that everyone is following the same type of rules and investors can fairly examine and analyze numbers the same without having to figure out what each companies numbers means.
Securities Act of…...

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