Several private and public sector organizations are associated with the accounting 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.
This question was answered on: Sep 16, 2020
Need a similar solution fast, written anew from scratch? Place your own custom order
We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.