Which of the following is LEAST LIKELY to represent a constraint on managements earnings management (EM) behaviour?

	1.	The fact that analysts develop a sense of the reporting personalities of the firms that they follow
	2.	The fact that the quality of managements communications serves as a signal of the forthrightness of management
	3.	The fact that the difference between earnings and cash flows is only a matter of timing
	4.	The fact that companies have internal auditors working in their controllers office to assist the CFO with the development of the Financial Statements