Capitol Comment 262 - Old Regulations for the New Economy by Aaron Lilly Generally speaking, organizations that keep two sets of accounting records have something to hide.
Organized crime is such an example.
Complicated accounting standards are a relic of the industry s regulated history. The agency s main goal was to bring order and accountability to a monopoly market. However, they took radically different approaches toward fulfilling those obligations. To ensure regulatory accountability from a government-protected monopoly, the FCC chose an interventionist approach. The agency has attempted to micromanage the various telecommunications industries, often at the expense of a broad, consistent policy.