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The Securities and Exchange Commission (SEC) has statutory authority to establish financial accounting and reporting standards for publicly held companies under the Securities Exchange Act of 1934. Throughout its history, however, the Commission’s policy has been to rely on the private sector for this function.
Provides access to standards and regulations, interpretations, generally accepted practices, and news updates on U.S. and international accounting and auditing requirements. Standards and regulations include those from: FASB, AICPA, SEC, PCAOB, OMB, GASB, GAO, and IASB. Also covers tax cases, codes regulations, IRC publications and other tax documents.
(Check under Interest Areas tab) An arm of AICPA, ASB prepares rules rules followed by public accountants in auditing clients’ financial records. Included on their web site are: * Statements on Auditing Standards * Statements on Standards for Attestation Engagements * Statements on Quality Control Standards * Exposure Drafts * Comment Letters
FASAB standards are GAAP for federal governmental entities only. The web site provides access to: * Statement of financial standards * Statement of federal financial concepts * Interpretations * Exposoure Drafts * Technical Bulletins
Sets authoritative standards, or original pronouncements, for the US private sector. FASB's web site offers full-text, summary, and status of: * FASB pronouncements * FASB Interpretations * FASB Technical Bulletins * Comment Letters * Statements of Financial Accounting Standards * Statements of Financial Accounting Concepts * Emerging Issues Task Force (EITF) abstracts
GASB standards are authoritative for US state and local governmental entities. Their web site offers summary and status of: * GASB pronouncements * GASB Statements * GASB Concept Statements * GASB Interpretations
Formed in 2002 by the Sarbanes-Oxley Act to oversee the audit of public companies that are subject to the securities laws in the preparation of fair and independent audit reports. Available on their web site are: * Auditing Standards * Interim Standards * Proposed and Adopted Standards and Related Rules