Which of the Following Statements Is True About Accounting Regulation

Which of the following statements is true about accounting regulation?

A) It is a set of prescribed rules that provides authoritative direction.
B) It is developed by an independent authoritative body that has been given the power to govern how financial statements are to be prepared.
C) It incorporates a basis for monitoring and enforcing compliance with the specific regulatory requirements.
D) All of the given options are correct.