Pronouncements of the FASB do not have to be formally approved by the SEC before they are issued.

Name: Pronouncements of the FASB do not have to be formally approved by the SEC before they are issued.
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) operates independently, and its pronouncements do not require formal approval by the Securities and Exchange Commission (SEC) before they are issued. However, the SEC often supports and enforces FASB standards for companies under its jurisdiction.

Pronouncements of the FASB Do Not Have to Be Formally