Accounting Regulatory Bodies 4

Since service and fiscal integrity argon the lifeblood of an organization, the organizations fiscal practices and transp arncy must be consistent. As a effect there are several accounting restrictive bodies which affirm been established to aid in ensuring such financial integrity. opus there are numerous accounting regulatory bodies, FASB, GASB, dry, and PCAOB are four accounting regulatory bodies with which most people are familiar. Since the Enron financial scandal, the PCAOB (Public Company Accounting Oversight wag) has become much prominent within the news and more visible to the ecumenical creation. With the creation of the Sarbanes-Oxley Act of 2002 the Act directs the PCAOB to establish take carnationing and related testimony standards, quality control standards, and ethics standards to be used by the registered public accounting firms in the preparation and issuance of audit reports, as deemed necessary or appropriate in the public interest or for the protection of investors (www.pcaobus.org). Another accounting regulatory body with which the general public has recently become immensely familiar with is the investors advocate also known as the moment (Securities Stock Exchange.

) The minutes primary goal is to protect the interests of investors, champion fair, orderly and efficient markets, and to facilitate capital information (www.sec.org). The SEC was the first regulatory body to initiate an investigation into the Martha Stewart stock exchange scandal. The SEC aids in protecting exploitation economy and protecting valuable investment savings. To achieve this, the SEC requires that public companies disclose meaningful financial and other financial information to the public (www.sec.gov). Therefore companies such as Wal-Mart and Proctor-Gamble are required to provide the shareholders and public alike with financial reports on a quarterly basis. GASB or the Governmental Accounting Standards Board is the organization which was founded in 1984 to organize... If you want to get a fully essay, order it on our website: Orderessay

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