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7. Who pays for accounting regulation and who benefits? 8. Can accounting standards and policy making be neutral? In what sen
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7. These are important but unanswered questions, at least in terms of accounting research. From a self-interest viewpoint, auditors and financial intermediaries benefit from regulation because new work is created by new regulation. Users benefit to the extent that information is useful. Costs are incurred by producers of information (firms), but are enjoyed by the users and auditors along with stakeholders.

8. Neutrality is not possible in the sense that someone benefits from regulation, and someone pays the costs. Regulation creates wealth transfers. However, neutrality is at least conceptually possible in the sense of providing information that is useful for investors and creators within a benefits exceeding costs (of production) framework. The FASB has an extremely difficult balancing act to maintain.

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