Which of the following bodies requires firms to file disclosures so potential investors have valid information?
A) Accounting Disclosure Board
B) Financial Accounting Standards Board
C) Association of Certified Fraud Examiners
D) Securities and Exchange Commission
E) American Institute of Certified Public Accountants

Question

Quizplus · Accepted Answer

The Securities and Exchange Commission (SEC) requires firms to file disclosures in order to provide potential investors with valid information. The Accounting Disclosure Board and the Financial Accounting Standards Board both deal with accounting regulations and standards, but do not have the authority to require firms to file disclosures. The Association of Certified Fraud Examiners and the American Institute of Certified Public Accountants are professional organizations for fraud examiners and accountants, respectively, and do not have regulatory authority.

Which of the Following Bodies Requires Firms to File Disclosures