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If CMC was considering becoming a publicly traded company, what accounting bodies regulations would they be required to follow for publishing their quarterly and annual

If CMC was considering becoming a publicly traded company, what accounting bodies regulations would they be required to follow for publishing their quarterly and annual financial statement?

The Security and Exchange Commission (SEC) mandates US GAAP regulations be followed, but which organization does the SEC rely on to develop the accounting standards? Since CMCs stock is privately held and not traded on any stock exchange, does the SEC have any say in their accounting practices?

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