1a) .Do you believe that the formation of the PCAOB is significant? What implications do you believe exist for accountants and auditors of public companies that might have a lasting impact?

a) Discuss examples of how the SEC has elected to fulfill its responsibilities with regard to accounting standards. What do you believe are the strengths and the weaknesses of this approach?

c) Do you believe that the general approach of the SEC in regards to setting accounting standards has changed over time? What do you think are some of the historical factors that have affected this trend?