Which of the following are independent private sector standard-setting bodies?
A) SEC and IRS
B) AICPA and IIA
C) NASBA and AAA
D) FASB and GASB
E) GAO and FAA

Question

Quizplus · Accepted Answer

FASB (Financial Accounting Standards Board) and GASB (Governmental Accounting Standards Board) are independent organizations responsible for establishing and improving financial accounting and reporting standards. Unlike government agencies, they operate in the private sector to ensure transparency and integrity in financial reporting.

Which of the Following Are Independent Private Sector Standard-Setting Bodies