Skip to Main Content
It looks like you're using Internet Explorer 11 or older. This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. If you continue with this browser, you may see unexpected results.

Accounting: Accounting Experts

Library resources available to support the Marriott School of Accountancy program.


SEC (Securities and Exchange Commission)
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States government which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets. The SEC was created by section 4 of the Securities Exchange Act of 1934.

The main reason for the creation of the SEC was to regulate the stock market and prevent corporate abuses relating to the offering and sale of securities and corporate reporting. The SEC was given the power to license and regulate stock exchanges, the companies whose securities traded on them, and the brokers and dealers who conducted the trading.

Currently, the SEC is responsible for administering seven major laws that govern the securities industry. They are: the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002 and most recently, the Credit Rating Agency Reform Act of 2006. RSS News Feed

Loading ...


FASB (Financial Accounting Standards Board)  

The Financial Accounting Standards Board (FASB) primary purpose is to develop generally accepted accounting principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S.

Two large projects:  

  • Creation of a conceptual framework known as FASB Accounting Standards Codification. 
  • Convergence project with the International Accounting Standards Board (IASB) and International Financial Reporting Standards (IFRS). RSS News Feed
Need to click "accept"  to open documents

Loading ...


AICPA (American Institute of Certified Public Accountants)
The American Institute of Certified Public Accountants (AICPA) is the national, professional association of CPAs in the United States. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations. The AICPA's overriding role is to promote and enhance the profession of accounting. A few of their functions in order to accomplish this are; preparing the Uniform CPA Examination, developing CPA professional standards, and providing support to the academic community and representing the profession before Congress and federal agencies.

In the 1970s, the AICPA transferred its responsibility for setting generally accepted accounting principles (GAAP) to the newly formed Financial Accounting Standards Board (FASB.) Following this, it retained its standards setting function in areas such as financial statement auditing, professional ethics, attest services, CPA firm quality control, CPA tax practice and financial planning practice. Before passage of Sarbanes-Oxley, AICPA standards in these areas were considered "generally accepted" for all CPA practitioners.


Loading ...


IASB (International Accounting Standards Board)
The International Accounting Standards Board (IASB) was founded on April 1, 2001 and is the successor of the International Accounting Standards Committee (IASC) founded in June 1973 in London. It is responsible for developing and promoting the use and application of the International Financial Reporting Standards (IFRS) which prior to 2001 were called the International Accounting Standards (IAS). RSS News Feed

Loading ...


PCAOB (Public Company Accounting Oversight Board)

The Public Company Accounting Oversight Board (PCAOB) is a private, nonprofit corporation created by the Sarbanes-Oxley Act of 2002 to oversee the auditors of public companies. The PCAOB was created to protect investors and the public interest by promoting informative, fair, and independent audit reports.

Sarbanes-Oxley Act of 2002  PDF (197k)