Accounting and Auditing Regulatory Structure: U.S. and ...

Accounting and Auditing Regulatory structure : and International Raj Gnanarajah Analyst in Financial Economics July 19, 2017 Congressional Research Service 7-5700 R44894 Accounting and Auditing Regulatory structure : and International Congressional Research Service Summary Accounting and Auditing standards in the United States are promulgated and regulated by various federal, state, and self- Regulatory organizations (SROs). Accounting and Auditing standards are also influenced by practitioners from businesses, nonprofits, and government entities. Congress has allowed financial Accounting and Auditing practitioners to remain largely self-regulated while retaining oversight responsibility. At certain times, Congress has sought to achieve specific Accounting - and Auditing -based policy objectives by enacting legislation such as the Sarbanes-Oxley Act of 2002 (SOX; 107-204) and the Federal Credit Reform Act of 1990 (FCRA; 101-508).

local governments issue reports to communicate how tax revenues were used to benefit citizens. State and local governments have standards distinct from those of the federal government. As such, accounting and auditing standards can be classified into three areas: (1) private industry

Tags:

  Regulatory, Structure, Accounting, Government, Auditing, Accounting and auditing regulatory structure

Information

Related search queries