The Securities and Exchange Commission (SEC) has the legalauthority to regulate the form and content of financial statements.However, the SEC relies on the following organizations forimplementation:
Financial Accounting Standards Board (FASB). Industry Committeesof the American Institute of Certified Public Accountants(AICPA.)Principles and Practices Board of the Healthcare FinancialManagement Association (HFMA). Should the preparation andpresentation of financial accounting data beregulated?
