Respuesta :
The Financial Accounting Standards Board (FASB) sets accounting rules for public and private companies and nonprofits in the United States. A related organization, the Governmental Accounting Standards Board (GASB), sets rules for state and local governments.
Does the FASB set auditing standards?
Financial Accounting Standards Board (FASB), the American Institute of Certified Public Accountants (AICPA), the Independence Standards Board (ISB), and various international accounting bodies, that establish accounting, auditing, and independence standards designed to improve financial accounting and reporting.
The body currently performing that function is the Financial Accounting Standards Board, or the FASB. As a result, the FASB has the power to set, but not enforce, accounting standards to be used by public companies.
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