Accounting Police: Do They Exist?
 by: John Day

Who created accounting principles? Who sets and revises accounting
standards? What if you don’t follow all the rules, do you go to jail? Is
there an accounting police force that investigates and arrests violators? It
would seem that there must be some regulatory force to make sure that
providers of financial statements conform to the rules. There is, up to a
point, and here is how it works:

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