The American Institute of Certified Public Accountants has the primary authority to establish accounting standards.

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While the American Institute of Certified Public Accountants (AICPA) does provide guidance on accounting standards, the primary authority for establishing accounting standards in the United States lies with the Financial Accounting Standards Board (FASB). The FASB is an independent organization that sets and improves financial accounting and reporting standards.

The American Institute of Certified Public Accountants Has the Primary