Question: From a critical perspective, can financial statements be considered objective or neutral? Explain your answer. Why would the quality of accounting and auditing standards affect

  1. From a critical perspective, can financial statements be considered objective or neutral? Explain your answer.
  2. Why would the quality of accounting and auditing standards affect the development of financial markets? Why is the strength of enforcement of the standards and investor protection important in this relationship?
  3. Why is a "model of human behavior" generally superior to human judgement?

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