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Accounting Boards
The various boards and committees and what they do
20
Accounting
Undergraduate 4
10/24/2009

Additional Accounting Flashcards

 


 

Cards

Term
AICPA
Definition
American Institute of Certified Public Accountants - sets professional requirements, conducts research, publishes materials
Term
CPCAF
Definition
Center for Public Company Audit Firms (AICPA Practice Section)
Term
PCPS
Definition
Private Companies Practice Section (AICPA Practice Section)
Term
GAAS
Definition
Generally accepted auditing standards (10)
Term
ISAs
Definition
International Standards on Auditing - issued by the IAPC
Term
IAPC
Definition
International Auditing Practices Committee of the IFA
Term
IFA
Definition
International Federation of Accountants
Term
PCAOB
Definition
Public Company Accounting Oversight Board - created by the Sarbanes-Oxley Act
Term
SEC
Definition
Securities and Exchange Commission -Assists in providing investors with reliable info
Term
SASs
Definition
Statements on Auditing Standards - issued by AICPA ASB
Term
ASB
Definition
Auditing Standards Board (AICPA)- issues SASs
Term
SEC S-1
Definition
Initial registration for publicly held companies
Term
SEC 8-K
Definition
Reports significant events for publicly held companies
Term
SEC 10-K
Definition
Annual report for publicly held companies
Term
Areas where AICPA has authority to set standards and make rules (5)
Definition
1. Auditing Standards (ASB - issues SASs)
2. Compilation & Review Standards (ARSC - issues SSARS)
3. Other attestation standards (SSAE)
4. Consulting services (MCSEC)
5. Code of Professional Conduct (AICPA Committee on Professional Ethics)
Term
ARSC
Definition
Accounting and Review Services Committee of the AICPA - issues SSARS
Term
SSARS
Definition
Statements on Standards for Accounting and Review Services - issued by ARSC
Term
SSAE
Definition
Statements on Standards for Attestation Engagements (AICPA issues re: other attestion engagements)
Term
MCSEC
Definition
Management Consulting Services Executive Committee (AICPA)
Term
QCSC
Definition
Quality Control Standards Committee (AICPA)- 5 areas that quality control addresses
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