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Accounting Regulatory Bodies and their Impact

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Write a paper in which you examine at least four accounting regulatory bodies and discuss how an organization complies with the standards of the regulatory bodies you selected.

This must be completed using original work.

Cite at least two references.

Format your paper according to APA standards.

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Solution Summary

A discussion of four accounting regulatory bodies and how they influence the field.

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The Public Company Accounting Oversight Board (PCAOB)

The PCAOB is responsible for the independent making sure that public accounting firms/auditors comply with accounting standards. It is also responsible for registering and approving new auditor, regulating auditors by inspecting and overseeing audit partner rotation and auditor reporting requirements, and ensuring that these auditors comply. Moreover, the board has the power to impose sanctions for those who do not comply. Organizations comply with the standards of the PCAOB by ensuring that all auditors employed with the firm are properly registered, and by taking personal responsibility for ensuring that they comply with PCAOB auditor reporting regulations.

The Security and Exchange Commission (SEC)

The SEC is responsible for ensuring fair financial trades in order to protect investors and promote the efficiency of the market. In so doing, the SEC ensures that the American ...

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Carmel Philistin, MBA/HCM
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  • MBA/HCM, Phoenix University
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