Читать книгу Financial Accounting For Dummies - Maire Loughran - Страница 82

In addition to the AICPA, other organizations give financial accountants official guidance on how to prepare financial statements. Public and nonpublic corporations have different agencies monitoring them and keeping them on the right course.

In this section, I discuss the U.S. Securities and Exchange Commission (SEC), which was created during the Great Depression that followed the stock market crash of 1929. It was charged with regulating the stock market and preventing corporate abuses relating to the offering and sale of securities and corporate reporting. Also in this section, I explain the Sarbanes-Oxley Act of 2002 (SOX), which was enacted in response to corporate abuses that took place in the 1990s and early 2000s. Finally, you find out about the enforcement arm of SOX, the Public Company Accounting Oversight Board (PCAOB).