The Financial Accounting Standards Board is a private organization with the legal authority to develop and enforce generally accepted accounting principles.

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The Financial Accounting Standards Board (FASB) is a private organization that develops generally accepted accounting principles (GAAP) in the United States, but it does not have legal authority to enforce them. Enforcement is typically carried out by regulatory bodies such as the Securities and Exchange Commission (SEC).

The Financial Accounting Standards Board Is a Private Organization with the Legal