have laws about this already” – Agencies are staffed by lawyers, not software engineers – Enforcement is very, very difficult • When regulation comes to crypto, it will likely be voluntary, driven by

Governance Other 1 2 Objectives The previous studies on the quality of financial statements use the final version of financial statements after auditors adjust misstatements. Therefore, it is difficult to

each type of investment unit, and, in cases where different types of investment units have different policies about returns or the priority return, clear details about the nature and conditions of

deficiencies effectively because they took on audit engagements in excessive quantity and complexity beyond the capability of experienced personnel to perform quality audit work in accordance with the

complexity of engagements, significant engagement risks and audit partners’ other responsibilities. According to the SEC’s inspections, audit firms continuously put effort to resolve this problem in a variety

exercise due care in designating engagement with complexity or requires specific technical knowledge to the appropriate partners and divisions. - Some firms have rendered policies to not accepting new

complexity. Insufficient audit fees mean inadequate resources, which inevitably leads to long and strenuous work hours at all levels of the audit personnel. This eventually results in high turnover of audit

.............................................................................. 43 United Kingdom: Clear Policies Move the Needle on Stewardship and Engagement .................................... 45 KEY QUESTIONS TO ASK BY SECTOR Taking Investment Lessons from Socrates: Asking

should be consistent with the rule of law, transparent and enforceable. If new laws and regulations are needed, such as to deal with clear cases of market imperfections, they should be designed in a way

solutions ✓ Climate Adaptation solutions Copyright © 2022 by GMO LLC. All rights reserved. For Institutional Use Only | 20 INCORPORATING SUSTAINABILITY IN VALUATIONS Uncertain cash flows; difficult to