Question: You have been asked by Talbot, a senior partner in the accounting firm where you work, to brief her long-term client regarding the increasing fees from the firm in order to comply with increasing and more complex accounting regulation. The CEO of the client has voiced her concern about increasing fees as she is faced with an increasingly complex operating environment, being a large multi-national commercial real estate company, Cartel Hall. Your senior partner would like you to provide a brief industry-relevant overview about increasing regulation and its complexity using research and applying your judgement to these key issues. Mainly, the partner wants you to calm the client down and tell him there is not "too much regulation" (Talbot does not want to lose the client!) However, it is your job to provide a balanced, realistic information briefing on (i) possible reasons for accounting regulatory increases, (ii) what it means for the client and your firm, and (iii) the status of the issue moving forward as we navigate many challenges facing the industry. The CEO and accounting team of Cartel Hall are based interstate and would like an engaging and informative briefing to help the client understand the nature of accounting regulation that the client can use to inform the board and other internal stakeholders.