Legally, the SEC has the authority to specify accounting principles and practices and thereby completely regulate accounting
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Legally, the SEC has the authority to specify accounting principles and practices and thereby completely regulate accounting practice. It has chosen not to do this, but rather to work with the AICPA and FASB. Why doesn't the SEC establish accounting principles?
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The SEC US Securities and Exchange Commission plays a critical role in regulating financial markets and ensuring the integrity of financial reporting ...View the full answer
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Related Book For 
Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice
ISBN: 9780070099999
5th Edition
Authors: Mcgraw-Hill
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