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- Identify and discuss the current regulatory framework or regulations encompassing the preparation of financial statements by reporting entities in AustraliaA. 63. Which body appoints the members of International Accounting Standards Board (IASB) that make the present IFRS?A. IFRS Foundation.B. IFRS Advisory Council.C. International Accounting Standards Committee.D. International Financial Reporting Interpretations Committee.This is the independent federal agency protecting the interests of investors, regulating stock markets, and ensuring companies adhere to GAAP requirements. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
- Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? A. IRS (Internal Revenue Service) B. SEC (Securities and Exchange Commission) C. FASB (Financial Accounting Standards Board) D. FDIC (Federal Deposit Insurance Corporation)The independent, nonprofit organization that sets financial accounting and reporting standards for both public- and private-sector businesses that use generally accepted accounting principles (GAAP) in the United States is which of the following? A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual frameworkIn what way is the Securities and Exchange Commission concerned about and supportive of accounting principles and standards?
- US generally accepted accounting principles are currently developed by which entity? A . Th e Securities and Exchange Commission.Discuss the methods by which the SEC can influence the development of generally accepted accounting principles in the United States.The accuracy and the presentation of the Public listed companies financial reports is the primary responsibility of: Select one:a. The auditorb. The management. c. Auditing and Assurance Standards Board. d. Australian Accounting standard board
- The use of the Certified Public Accountant title is regulated by Select one a. the Securities and Exchange Commission D. the American Institute of Certiied Public Accountants through the licensing departments of the tax and auditing committees c. the federal government d. state law through a licensing department or agency of each stateWhich of the following organizations is responsible for the creation and governance of accounting standards in the United States? O A. Securities and Exchange Commission B. Financial Accounting Standards Board C. Institute of Management Accountants D. American Institute of Certified Public AccountantsWhich of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? Group of answer choices 1.IRS (Internal Revenue Service) 2.SEC (Securities and Exchange Commission) 3.FASB (Financial Accounting Standards Board) 4. FDIC (Federal Deposit Insurance Corporation)
