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The Federal Government (And Other Governments) Is Known for an Affinity

Question 61

Essay

The federal government (and other governments) is known for an affinity for "alphabet soup"-- a proliferation of acronyms to refer to agencies, departments, legislation, programs, and even lawsuits.
REQUIRED:
What do the following acronyms stand for? Briefly, what is each organization responsible for in relation to auditing?
a) OMB
b) GAO
c) AICPA
d) PCAOB
e) GASB
f) FASB
g) FASAB

Correct Answer:

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