The Term "Due Process" Is Used in Various Settings to Describe

question 72

Essay

The term "due process" is used in various settings to describe the steps taken to ensure that an administrative matter receives the consideration required to adequately protect the interests of those involved.Due process is an integral part of the legal and legislative processes,for example.
The Financial Accounting Standards Board (FASB)also uses a set of due process procedures to ensure that the interests of its constituents are considered in the development of accounting standards.
Required:
Identify the steps in the set of due process procedures used by the FASB.

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests and possibly rights to dividends and voting in corporate matters.

Involuntary Dissolution

The forced termination of a corporation's existence by court order, often initiated by the state for legal or regulatory reasons.

Secretary of State

is a high-ranking official in the government responsible for foreign affairs and diplomatic activities, or in some countries, domestic affairs.

Annual Report

A comprehensive summary of a company's performance, activities, and financial health over a fiscal year, provided to shareholders and regulators.