1. How are the various stakeholders-shareholders, employees, bankers, creditors, regulators, etc., and other interested parties-helped by the information contained in financial statements and how does that justify their involvement with the company? 2. What are some of the fairly recent-you can go back a decade or two, if you wish-corporate debacles that were probably the result of too much reliance on financial statements, fraudulent or otherwise? What were the underlying reasons and the resulting consequences? 3. What are the implications, and need (if any) of Pro-Forma Financial Statements?" 4. What, in your views, are some of the major drawbacks of financial statements and how are the regulators, law makers, etc., proposing to strengthen the financial stability of corporations, especially banks, in recent years-based on financial statement information? What would you propose and why