1. High-quality accounting information is critical to a well-functioning capital market. However, in the real world, corporate management may intentionally manipulate accounting numbers, e.g., accounting earnings. Discuss various motives behind earnings manipulation. 2. Discuss internal and external mechanisms that can constrain earnings manipulation and ensure the credibility of financial information. 3. The article suggests that investors and financial analysts apply techniques developed by linguists and psychologists to detect possible earnings manipulation. Please comment on this suggestion. 4. Securities regulators such as the SEC play a role to discover financial fraud and penalize individuals/corporations that engage in fraud. The enforcement by the SEC is called public enforcement. The threat of litigation by private entities such as class action lawsuits is called private enforcement and is also found to deter managers from committing fraud. Discuss the pros and cons associated with public and private enforcement with respect to financial fraud. 1. High-quality accounting information is critical to a well-functioning capital market. However, in the real world, corporate management may intentionally manipulate accounting numbers, e.g., accounting earnings. Discuss various motives behind earnings manipulation. 2. Discuss internal and external mechanisms that can constrain earnings manipulation and ensure the credibility of financial information. 3. The article suggests that investors and financial analysts apply techniques developed by linguists and psychologists to detect possible earnings manipulation. Please comment on this suggestion. 4. Securities regulators such as the SEC play a role to discover financial fraud and penalize individuals/corporations that engage in fraud. The enforcement by the SEC is called public enforcement. The threat of litigation by private entities such as class action lawsuits is called private enforcement and is also found to deter managers from committing fraud. Discuss the pros and cons associated with public and private enforcement with respect to financial fraud