Why do companies lie?

Should regulators be responsible for verifying the truth of financial statements? Italian regulator Consob thinks not. That's what the agency said after being accused of dragging its feet on the Parmalat fiasco. Regulators are responsible for making sure companies disclose information, not whether that information is true, Consob officials told the New York Times.It's a good point, really. Regulators don't have the resources to verify the honesty of all the financial reports they receive from