Page 75 - F1 Integrated Workbook STUDENT 2018
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The regulatory environment
Need for regulation
Financial statements will be used by shareholders and many other types of users to
make decisions. In order that they can be relied upon by users, published financial
statements should be subject to regulation.
Regulation can also promote consistency and so helps users when interpreting
financial statements.
Different countries will be subject to a variety of economic, social and political factors.
As a result, the way in which published financial statements are regulated will vary
from country to country.
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