The government agency that has final authority over the financial reporting of publicly owned corporations is the

Question

Quizplus · Accepted Answer

The Securities and Exchange Commission (SEC) has final authority over the financial reporting of publicly owned corporations in the United States. The SEC was established to protect investors and ensure transparency and accuracy in financial reporting. The Financial Accounting Standards Board (FASB) develops accounting standards, but ultimate authority for enforcing those standards rests with the SEC. The Internal Revenue Service (IRS) is responsible for collecting taxes, while the Federal Trade Commission (FTC) focuses on protecting consumers and preventing anticompetitive business practices.

The Government Agency That Has Final Authority Over the Financial