Question

Which is a key reason for public disclosure laws

Answer 1

The key reason for public disclosure laws is to protect consumers. This is the law that forces public owned companies to disclose several important information's like operating results, financial conditions, management compensation etc. These are for protecting the interest of the public.

Answer 2

Under the Freedom of Information Act, all public companies are obliged to publish important informations that are sagnificant for consumer protection which is in the public interest. In most cases, private companies are not required to disclose important information such as financial statements, and other operational information. Also, this law is envisaged, state open-records legislation aimed at promoting an open government and information of citizenship which is thus able to hold government officials responsible for their decisions.