Question: Refer to your answer to Exercise 1. Required: Which country discussed in this chapter appears to have the most effective accounting and financial reporting supervision

Refer to your answer to Exercise 1.

Required:
Which country discussed in this chapter appears to have the most effective accounting and financial reporting supervision mechanism for companies whose securities are traded in public financial markets? Should each country that has a stock exchange (and therefore a public financial market) also have a regulatory agency that enforces accounting and financial reporting rules? Write a concise paragraph to support your answer.

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