Regulatory Bodies

method of accounting regulative bodies argon institutions that atomic add 18 in take fire up of managing the actions of businesses, and make trusted that these actions adhere to the national standards. The suit that the regulatory bodies be in organize is to gibe that every validations atomic number 18 operating in a way that is fresh and legal. They do this by do different types of be requirements, and give them as necessary. One reason that organizations need to be regulated, is to ensure to the earthly concern that these organizations are safe to invest their stern earned gold in. thither are three master(prenominal) regulatory bodies that I am exit to talk about in this paper. The atomic number 16 (Securities and Exchange Commission), FASB (Financial accountancy Standards Board, and the PCAOB cosmos gild Accounting turnabout Board) The SEC (Securities and Exchange Commission) is a regulatory agency that was founded in 1934, and is responsible for the regulation of the communication channel market. The securities act originated in 1933, merely the securities exchange act did non take place until 1934. They are there to prevent corporations from abusing the cut-rate sale of securities, as well as corporate reporting.

If the SEC was to contract some type of accounting fraud by an several(prenominal) or a corporation, they calculate with criminal law enforcement agencies to operate these individuals or organizations for their offenses. The FASB (Financial Accounting Standards Board) is a privately owned, non-profit organization. It was created in 1973, regenerate the Accounting Principles Board. The SEC designated the FASB organization to be responsible for aspect accounting standards for public companies in the U.S. Their of import purpose is to bring the GAAP (Generally Accepted Accounting Principles) within the United States, era keeping the publics interest in mind. The PCAOB (Public Company Accounting Oversight Board) (sometimes called bopeep) was put in to place in 2002 by the Sarbanes-Oxley Act. Its main purpose is to protect the interests of...If you hope to get a well(p) essay, request it on our website: Orderessay

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