Page 37 - CFA Lecture Day 10 Slides
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LOS 32.f: Describe mechanisms that discipline                       Session Unit 9:
          financial reporting quality and the potential                       32. Financial Reporting Quality, p.305
          limitations of those mechanisms., p.310



          Each country has its own authority:
          •   US – Securities and Exchange Commission (SEC).
          •   UK –Financial Conduct Authority (FCA)CA
          Globally co-ordinated actions via International Organisation of Securities Commissions (IOSCO):



          General requirements include:

                                                         tanties










                                                                                                          Sarbanes Oxley requirement!




          Enforcement actions include fines, suspension of participation, public disclosure of results of disciplinary
          proceedings, criminal prosecution.


                                                                 Limitations:
                                                 Clean audit report means what?
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