Ethical and Legal Obligations in Accounting

There are several regulatory organizations in accounting. These organizations include the Financial Accounting Standards Board, the Securities and Exchange Commission, and the Public Company Accounting Oversight Board. The Financial Accounting Standards Board (FASB) is a designated organization in the private sector for establishing standards of financial reporting (FASB, 2005). Standards are important for credible and comparable financial information. The FASB is independent of all business and professional organizations. Previously, financial accounting and reporting standards were established …showed first 75 words of 966 total…

…showed last 75 words of 966 total…amp;amp; Viele, D. (2003). Accounting: What the Numbers Mean Sixth Edition. New York: McGraw-Hill Companies. Parvaz, D. (2005). Corporate Ethics: Business' Big Boys Haven't Concerned the Market on bad. Seattle Post- Intelliger. Seattle, Washington. September 11, 2005. p. D6. Public Company Accounting Oversight Board (PCAOB). (2005). Retrieved September 11, 2005 from http://www.pcaobus.org Romal, Jane B., and Arlene M. Hibshweiler. (2004). Improving Professional Ethics. The CPA Jounarl. June 2004. Securities and Exchange Commission (SEC). (2005). Retrieved September 11, 2005 from http://www.sec.gov