Regulation tends to enforce responsible behavior, which is actually a long term benefit to an organization.
In other words, it tends to put a brake on the most egregious of the self-serving greed that turns into scandals and damages that destroy businesses. When it is effectively written and enforced.
People talk about costs -- often like every cost is bad.
Having worked in accounting for a while, I can say that it was sometimes an uphill battle to get people to do things right. Having rules -- internal and external -- helped in that regard.
A resulting benefit? Management actually knew the real state of the books, and could operate accordingly on that basis.
And, those precious banks were less likely to get ripped off by mis-representations.
Regulation's not bad. Crap regulation -- laws and rules and enforcement -- is.
In other words, it tends to put a brake on the most egregious of the self-serving greed that turns into scandals and damages that destroy businesses. When it is effectively written and enforced.
People talk about costs -- often like every cost is bad.
Having worked in accounting for a while, I can say that it was sometimes an uphill battle to get people to do things right. Having rules -- internal and external -- helped in that regard.
A resulting benefit? Management actually knew the real state of the books, and could operate accordingly on that basis.
And, those precious banks were less likely to get ripped off by mis-representations.
Regulation's not bad. Crap regulation -- laws and rules and enforcement -- is.