For instance, although securities markets have grown more global, they are nationally regulated Indeed, at the moment companies (issuers) wishing to
raise capital or have access to securities markets in different jurisdictions must
comply with the varying regulatory requirements of each jurisdiction. With the aim
of reducing the differences and inefficiencies that may arise, securities regulators
around the world are working together in encouraging the use and development of accounting standards in transnational dealings. Demonstrating this point for
example, the US Securities and Exchange Commission (SEC), while focusing on
the work of the International Accounting Standards Committee, have been
advocating that securities/capital markets can operate efficiently only when investors have access to good and high quality financial information