Question: (A) What is regulation? What is the rationale for regulating financial reporting practice? (8 marks) (B) Discuss the impact of 'Market-Related Incentives' on regulation. (7

(A) What is regulation? What is the rationale for regulating financial reporting practice?(8 marks)

(B) Discuss the impact of 'Market-Related Incentives' on regulation.(7 marks)

(C) What is the 'Pro-Regulation Perspective'? What do you perceive to the advantages and disadvantages of the 'Pro-Regulation Perspective'? (5 marks)

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