Maintaining a set of accounting record is required by who?

http://media.wiley.com/product_data/excerpt/87/04710720/0471072087-2.pdf

Maintaining a set of accounting records is not optional. The Internal Revenue

Service requires that businesses prepare and retain a set of records and

documents that can be audited. The Foreign Corrupt Practices Act (federal

legislation) requires public companies to ". . . make and keep books, records,

and accounts, which, in reasonable detail, accurately and fairly reflect the

transactions and dispositions of the assets. . . ." But beyond these two

reasons, a company that does not keep an accurate record of its business

transactions may lose revenue and is more likely to operate inefficiently