Answer Happy

Accounting has a great number of standards-setting bodies, who generally are referred to using an acronym. Match the relevant standards or the responsibility of each to the acronym of these standards-setting bodies. Standard or Responsibility 1. Standards-setting body for audit data standards 2. Standards-setting body for external auditing standards 3. Requires submission of 10-K and 10-Q's by publicly held companies 4. Articulates key concepts to enhance internal controls and deter fraud 5. Provides guidance for companies that use information technology 6. Sets standards for financial reporting 7. Sets standards for internal auditing Acronym of Standards-Setting Body