Match each of the organizations listed below with the statement that most adequately describes the role of the group.
Securities and Exchange Commission
International Accounting Standards Board
Financial Accounting Standards Board
American Institute of Certified Public Accountants
_____________________1. The federal agency with ultimate authority to determine rules used for preparing financial statements for companies whose stock is sold to the public
_____________________2. The group in the private sector with authority to set accounting standards
_____________________3. The professional organization for certified public accountants
_____________________4. The organization formed to develop worldwide accounting standards