Everything is Private Ordering

Including financial reporting

Well, if not everything, then almost everything, or a large number of things. Laws mediate so much of the relationship between a company and its shareholders that we can ask about almost any controversy which law applies, whether a new one is needed, or if a current one remains necessary.

Whether and how a law applies to a given situation, or whether shareholders and company leadership can resolve the situation outside of a law, defines what we mean by private ordering. Years ago we explained the basics and set forth some of the practical implications, which we review here and then apply to the latest controversy, around financial reporting.