Mr. Saqri believes Financial information must be presented using a standardized format and financial information needs to be regulated to ensure that the financial reports provide a faithful presentation. In the light of the above statement, Analyse the various sources of regulation.

(10 marks (word range: 200 - 250)

Mr. Saqri believes Financial information must be presented using a standardized format and financial information needs to be regulated to ensure that the financial reports provide a faithful presentation. In the light of the above statement, Discuss the sources for regulation (FIVE sources would be good).with example