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The primary goal of these regulatory bodies is to establish a set of rules and regulations and help improve the financial accounting standards of organizations. A few of such bodies are the Securities and Exchange Commission, the Financial Accounting Standards Board, the Government Accounting Standards Board, and the International Accounting Standards Board.
Securities and Exchange Commission
The Securities and Exchange Commission (SEC) is a government agency that has been given several responsibilities and a great deal of power. Its mission is to “protect investors, maintain fair, orderly, and efficient markets, and facilitate formation” (About the SEC, 2008)...
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