In the United States, the body that has the final authority over accounting standards is the

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The Securities Exchange Commission (SEC) is the regulatory body that has the final authority over accounting standards in the United States. While the Financial Accounting Standards Board (FASB) is responsible for setting accounting standards, they must be approved by the SEC before becoming mandatory for public companies to follow. The International Accounting Standards Board (IASB) sets accounting standards for countries outside of the United States, and the Accounting Standards Oversight Council (AcSOC) is a Canadian organization that oversees accounting standards in Canada.

In the United States, the Body That Has the Final