prepare a written report answering the following :

1.a) identify a person or entity that will sue the information in the financial statements to make a decision and identify the decision to be made

1.b) explain why the sue of GAAP as opposed to allowing carte blanche'(i.e., everyone reporting whatever and however they please) contributes to a better decision for the person/entity you have chosen.

2)Given that public corporations are required to use GAAP, identify the negative consequences of a corporation or corporations (officers,manager) intentionally violating GAAP(fraud). Specifically, consider the impact on the various users of the financial statements, as well as the general society.