Several private and public sector organisations are associated with the public accounting profession. The following are functions pertaining to these organisations:

1. Issue certificates of public practice to members.

2. Promulgate accounting standards and statements of accounting concepts.

3. Promulgate auditing standards and audit guidance statements.

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

5. Establish a code of professional ethics.

6. Impose mandatory continuing education on members.

7. Issue statements of auditing standards.

8. Take punitive action against an independent auditor.

9. Establish accounting principles for state and local government entities.

10. Establish quality control standards for audit work.

11. Undertake investigation of perceived breaches of the Corporations Act.

12. Provide timely guidance on urgent financial reporting issues.

Required

Indicate the organization(s) associated with each activity.