Given the increased development of complex business structures,which of the following regulators is responsible for the continued usefulness of accounting reports?

Question

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All of the regulators listed have a role in ensuring the usefulness of accounting reports in light of increasing complexity in business structures. The SEC is responsible for oversight of financial reporting by publicly traded companies, the PCAOB sets auditing standards for auditors of public companies, and the FASB sets accounting standards that are used by companies in preparing financial reports.

Given the Increased Development of Complex Business Structures,which of the Following