Which of these theories could explain a move towards government control of accounting standards setting in Australia?

Question

Quizplus · Accepted Answer

All of the theories mentioned can explain a move towards government control of accounting standards setting in Australia. Public interest theory suggests government intervention is needed to serve the public good. Regulatory capture theory posits that industries may influence regulators to act in their interest, necessitating government control to prevent such capture. Private interest theory implies that government control could be sought by private interests aiming to benefit at the expense of others, necessitating oversight to ensure fairness and transparency.

Which of These Theories Could Explain a Move Towards Government