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