Take the following as truth: Although the SEC has the authority to issue certain accounting/reporting and auditing standards for public companies, it has historically relied to a great extent on certain selfregulatory bodies to help maintain trust and confidence in our nation's capital markets.
Then the following statement: "Although the SEC has the authority to issue certain accounting / reporting and auditing standards it has relied on selfregulatory bodies." is true, false, or inconclusive?
Answer: True