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Regulatory Bodies on Companies

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Of the several regulatory bodies, which has the most effect on companies? Why? Do both public and nonpublic or not-for-profit organizations comply with the regulations of all regulatory bodies? Why or why not? Are there gray areas? How do companies assure compliance with regulations? How does your company comply? Any thoughts on how to streamline the regulatory process over accounting and finance?

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Of the several regulatory bodies, which has the most effect on companies? Why?
In my opinion the Department of Labor is the department of US government that has most effect on companies. The reason for this is that every business requires to have employees and the Department of Labor administers occupational safety, wage and hour standards, unemployment insurance benefits etc. The DOL is responsible for administering more than 180 federal laws.
Do both public and nonpublic or not-for-profit organizations comply with the regulations of all regulatory bodies? Why or why not?
Both public and nonpublic or not for profit organizations comply with regulations of regulatory bodies but not all regulatory bodies. For instance, a regulatory body that affects private companies, will not have public firms complying with its ...

Solution provided by:
Hatim Baxamusa, MBA
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  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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