Question: Which statement best characterizes the impact of regulatory changes on corporate governance since the 1 9 9 0 s ? New regulations require corporate managers

Which statement best characterizes the impact of regulatory changes on corporate governance since the 1990s?
New regulations require corporate managers to prioritize the interests of external stakeholders over those of shareholders.
Oversight by boards of directors and independent auditors has decreased, allowing for greater corporate flexibility.
Corporate governance has become untenable due to requirements that all conflicts of interest be catalogued.
Corporate transparency and accountability have increased through revised reporting and oversight requirements and stiffer penalties for fraud.
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