Accounting
Accountants and audit firms, regulated through boards and professional bodies.
Overview
Accountants and audit firms, regulated through boards and professional bodies. It brings its own authorities and obligations, which combine with any sector-specific rules a business is also subject to.
Authorities in this glossary active in it include State boards of accountancy, CPA provincial bodies, FASB, IASB and AICPA.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
Regulators increasingly look at activities and outcomes in this space, so obligations follow the business model rather than the label.
Who it affects
Organisations operating in accounting, and the vendors who serve them.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Hierarchy
- Members & authorities
- AICPACPA provincial bodiesFASBIASBState boards of accountancy
What to do about it
- 1List the activities you actually perform.
- 2Identify the authorities and licences those activities trigger.
- 3Scope your obligation library to the sector and its activities.
- 4Set up controls and evidence for the highest-risk obligations first.
From requirement to evidence.
Tag your organisation with this industry and Regulation Layer scopes the obligation library to it.
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