What question did this study set out to answer?

The aim is to explore the U.S. regulatory framework for financial reporting and the roles of key agencies involved.

June 15, 2026

A Perspective on the U.S. Public/Private-Sector Approach to the Regulation of Financial Reporting.

Key Points

The aim is to explore the U.S. regulatory framework for financial reporting and the roles of key agencies involved.
Analysis of the U.S. compliance system for financial reporting
Examination of the SEC's role in relation to a private-sector standard-setting body
Historical overview of the SEC's establishment and its policies
The SEC functions as a critical regulatory body established in 1934 to oversee financial markets.
The agency relies on private-sector leadership for developing and improving accounting principles.
Understanding the interactions between the SEC and private entities is key to comprehending U.S. financial regulation.

Abstract

Abstract The article provides insight into the functioning of the U.S. compliance system, in the context of the overall regulatory system for financial reporting. As a central element in that regulatory system, a federal government agency collaborates with a private-sector standard-setting body. To understand the U.S. regulatory system is to understand the working of the Securities and Exchange Commission (SE) and its relation to the accounting standard-setting body. The SEC is an independent federal regulatory agency that was established in 1934 by Congressional legislation. In addition, the SEC has generally adhered to a policy of relying on the private sector for leadership in establishing and improving accounting principles.

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A Perspective on the U.S. Public/Private-Sector Approach to the Regulation of Financial Reporting.

Key Points

Abstract

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