In the united states the privately funded organization that oversees the creation and governance of accounting standards is called The Financial Accounting Standards Board FASB.
The Financial Accounting Standards Board FASB is an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States, following generally accepted accounting principles GAAP.
The Financial Accounting Standards Board has the authority to establish and interpret generally accepted accounting principles GAAP in the United States for public and private companies and nonprofit organizations. GAAP is a set of standards that companies, nonprofits, and governments should follow when preparing and presenting their financial statements, including any related party transactions.
Learn more about FASB here
https://brainly.com/question/14439989
#SPJ4
