The Role of Federal Regulation in State and Local Governments and the Potential Impact of New Reforms: An Assessment of the Effectiveness of Reporting, Disclosure, and Funding
Research in Accounting Regulation
Government accounting, Municipal securities, SEC, Tower amendment, Dodd–Frank
Accounting | Business
The state and local government accounting profession continues to contend with issues surrounding self-governance, funding for the profession’s standard setting body, federal regulation and states’ rights. Fiscal conditions, bankruptcies and struggling pension funds bring to question whether self-governance has been effective in the state and local government sector. Federal regulation has impacted the government accounting sector but to a much lesser extent than in the private sector. With new discussion by lawmakers in Washington regarding the appropriate levels of regulation, particularly surrounding the financial markets; more change could be on the horizon. This paper assesses the proper balance between self-governance and regulation in the government sector and how current considerations by policymakers could impact the profession.
Foltin, Craig L., "The Role of Federal Regulation in State and Local Governments and the Potential Impact of New Reforms: An Assessment of the Effectiveness of Reporting, Disclosure, and Funding" (2017). Business Faculty Publications. 304.
This is the author's version of a work that was accepted for publication in Research in Accounting Regulation. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Research in Accounting Regulation, 29, 1, 2017, 10.1016/j.racreg.2017.04.003
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