Accounting Regulatory Bodies

estimate statement Regulatory Bodies Several account remains regulatory bodies tidy sumful be identified for placeting standards in fiscal coverage environments earthly concernwide. Each body implements a destine of standards to organizations that enforce and upgrade accurate, consistent, and reliable financial reporting that can be sanely comp bed and analyzed by new(prenominal)s. The International explanation Standards add-in, the U.S. Securities and Exchange Commission, the governmental Accounting Standards Board, and the Financial Accounting Standards Board are four major account regulatory bodies that deed with organizations and abide by standards they govern to improve and maintain the accounting environment. The International Accounting Standards Board (IASB) has established a mutual language for financial reporting. The IASB is committed to developing, in the public interest, a single set of high quality, understandable and enforceable world-wide a ccounting standards that make headway transparent and comparable culture in general adjudicate financial statements (IASB, 2008). The IASB works closely with other national accounting standards developers around the world to collaborate and intromit financial standards that volition compliment and compare with others.

The IASB has a promulgated Statement regarding the richness of working together with all accounting standards developers to maintain unshakable relationships and accomplish mutual goals. The IASBs goals are outlined in the Statement as, (a) to develop, in the public interest, a single set of high quality, understandable and enforceable world(prenominal) accounting sta ndards that enquire high quality, transpare! nt and comparable information in financial statements and other financial reporting to swear out participants in the worlds capital markets and other users make economic decisions; (b) to raise the use and rigorous application of those standards; (c) in fulfilling the objectives associated with (a) and (b), to take account of, as appropriate, the...If you want to get a full essay, format it on our website: OrderEssay.net

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