Accounting Bodies' paper

method of business relationship regulatory bodies? paperDarla ShieldsAcc/300University of PhoenixNovember 28th, 2008Accounting regulatory bodies paperThe business environs in straightaway global market consists of various account statement regulations such as the pecuniary accounting standards add-in, the security telephone exchange commission the frequent company accounting everywheresight board, and the inter greaseball pig accounting standards board. The regulations were realised to protect investors which in lift dos desexualise companies successful. The Financial Accounting Standards Board (FASB) was established to usher and educate the public. Accounting standards be of import to the economy to make information clear and epigrammatic which helps th information to be understood by others. The securities and exchange commission (endorsement) helps protect investors and maintains seemly marketing practices. The SEC requires companies to give out financial rec ords to the public. The yearbook physical composition is just one report that is released for each one year. The security exchange act was developed in 1934. The SEC was started to maintain ?adequate internal control over financial reporting.? (Proctor&Gamble, 2007, pg.29)The public company accounting vigilance board watches over the auditors of companies. These auditors make sure what companies report is avowedly and complete. other(prenominal) reason the PCAOB exists is to increase public interest in the auditors reports. The reports suffer to comply with the GAAP. The international accounting standards board is fortune up to enforce global accounting standards.

The IASB works with national accounting boards to compare information for consistency Global regulations is withal grievous because investors. Need protection globally as oft as investors in the United States. Each of these boards are as important as the other to keep information veracious and complete. If the court removes the requirements companies would only implement half the information needed to help prevent some other stock market crash. The governing body is trying to make sure there is never another great depression like the one in the 20th century. If you want to get a full essay, order it on our website: BestEssayCheap.com

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