Which of the following is NOT a major standard-setting body responsible for the establishment of U.S. and international GAAP (Generally Accepted Accounting Principles)?

Question

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While the PCAOB (Public Company Accounting Oversight Board) is a significant regulatory body for auditors of public companies, it is not a major standard-setting body responsible for establishing U.S. and international GAAP. The other options, SEC (Securities Exchange Commission), FASB (Financial Accounting Standards Board), and IASB (International Accounting Standards Board), are all major organizations responsible for establishing accounting standards.

Which of the Following Is NOT a Major Standard-Setting Body