Question

Mechanisms that enforce discipline over !nancial reporting quality least likely include:A)counterparties to private contracts.B)accounting standard-setting bodies.C)government securities regulators.

Answer 1

Answer:

B) Accounting standard-setting bodies.

Explanation:

Accounting standard-setting bodies issue financial reporting standards but do not impose compliance with them. Securities regulators and counter parties to private contracts are among the mechanisms that discipline financial reporting quality.