In the U.S. ,generally accepted accounting principles are established:

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Generally accepted accounting principles (GAAP) are established by the Financial Accounting Standards Board (FASB), an independent organization recognized by the Securities and Exchange Commission (SEC) for setting accounting standards in the United States. The Public Company Accounting Oversight Board (PCAOB) is responsible for overseeing the work of auditors of public companies, while the American Institute of Certified Public Accountants (AICPA) is a professional organization for CPAs and provides guidance and support to its members. The 1933 Securities Act primarily addresses registration and disclosure requirements for securities offerings.

In the US ,Generally Accepted Accounting Principles Are Established