Which of the Following Statements About the Financial Accounting Standards

Which of the following statements about the Financial Accounting Standards Board is correct?

A) The FASB is an agency of the Federal government.
B) The FASB has the authority to fine a noncompliant firm.
C) The FASB follows a due process procedure that permits input from interested parties before an Accounting Standards Update (ASU) is issued.
D) The FASB is controlled by the American Institute of CPAs.