Several private and public sector organizations are associated with the profession. Listed below...


Organizations associated with the public accounting profession

Several private and public sector organizations are associated with the profession. Listed below are activities pertaining to these organizations.

1. License individuals to practice as CPAs.

2. Promulgate GAAP.

3. Issue Statements on Auditing Standards.

4. Regulate the distribution and trading of securities offered for public sale.

5. Establish its own code of professional ethics.

6. Issue Statements of Financial Accounting Standards.

7. Impose mandatory continuing education as a requirement for renewal of license to practice as a CPA.

8. Issue disclosure requirements for companies under its jurisdiction that may exceed GAAP.

9. Issue auditing interpretations.

10. Cooperate with the AICPA in areas of mutual interest such as continuing professional education and ethics enforcement.

11. Take punitive action against an independent auditor.

12. Establish accounting principles for state and local governmental entities.

13. Establish GAAS.

14. Suspend or revoke a CPA's license to practice.

15. Establish quality control standards.

16. Operate as proprietorships, partnerships, or professional corporations.

17. Issue government auditing standards.

18. Administer federal tax laws.


Indicate the organization or organizations associated with each activity.

American Institute Certified Public Account(AICPA) and Financial Accounting Standard Board(FASB) :

"American Institute Certified Public Account(AICPA)" provide the certificate courses on Certified Public Account(AICPA) in United States of America and "Financial Accounting Standard Board(FASB)" is the the organisation established for handing the accounting and financial reporting standards for companies and nonprofit organizations in the United States of America.

Answer and Explanation: 1

Become a member to unlock this answer! Create your account

View this answer

Several private and public sector organizations are associated with the profession and activities are pertaining to these organizations are listed...

See full answer below.

Learn more about this topic:

Committee on Public Accounts of Spain


Chapter 12 / Lesson 12

The Spanish Committee on Public Accounts functions much like the Internal Revenue Service in the United States. Explore this important oversight organization and discover its history, functions, and responsibilities in today's world.

Related to this Question

Explore our homework questions and answers library