CapLink plc (CapLink) is a large and multinational firm, headquartered in the UK and listed on a UK stock exchange. Over the past years, CapLink's CEO has invested a substantial amount of time and money into establishing and cultivating good relations with CapLink's shareholders. The shareholders are, in general, satisfied with the CEO, but have recently learned that CapLink repeatedly disclosed its financial statements too late. After receiving several written warnings to comply with disclosure deadlines, of which the CEO did not inform the shareholders, CapLink had to pay a fine of half a million pounds. To avoid late disclosures in the future, the shareholders voted in favour of hiring a compliance officer at the last annual general meeting (AGM). At the same AGM, the shareholders brought forward proposals for changes in the compensation contract of the CEO, which, as some shareholders fear, puts too much emphasis on short-term earnings. The current contract stipulates that an increase in short-term earnings results in a financial reward for the CEO. REQUIRED: a) Financial accounting regulation has three different components: written rules, their implementation and enforcement. i) Explain the components of financial accounting regulation, both in general and by means of examples taken from the description of CapLink above. ii) Provide an additional example of a written rule that applies to CapLink. Explain this rule and how it is implemented and enforced. (10 marks)