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Four Major Regulatory Bodies

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There are four major regulatory bodies. These bodies were created by the United States to help maintain accurate and proper reporting. The first is the Securities and Exchange Commission. This body helps protect investors by ensuring they have all the proper reports and data to make sound and precise investment decisions. If these reports are in any way false or misleading this accounting body can bring up civil charges against the company. The second major regulatory body is the American Institute of Certified Public Accountants. This regulatory body was created to help represent accountants. This body helps provide education and knowledge to accounts and companies. They also make sure that all ethical and technical guidelines are followed. The third major regulatory body is Financial Accounting Standards Board. This body takes care of the nongovernmental establishments. They make sure companies are following the proper guidelines and rules. They enforce national accounting standards to create accurate and trust worthy reports and data. They were created to improve and maintain the current accounting standards. The fourth and final major regulatory body is the Governmental Accounting Standards Board. This regulatory body deals with government based companies and their accounting standards. They set the rules and established the guidelines that govern and maintain the accounting world in government. They do a lot of the same jobs as the other major regulatory bodies. They maintain accurate reporting and hold companies and others punishable for any false or misleading data. These four major regulatory bodies were created to maintain and improve an accurate and reliable accounting…...

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