Authorities
Financial Accounting Standards Board (FASB)
The independent body that sets US generally accepted accounting principles (US GAAP).
Overview
FASB standards are recognised by the SEC as authoritative for US public companies.
Its powers include publishing standards that others adopt.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
Its standards become requirements once regulators cite them or contracts demand them.
Who it affects
Organisations in accounting.
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
Connections
The terms most closely tied to FASB. Select one to open it.
What to do about it
- 1Confirm whether FASB has power over you, and through which licence, registration, membership or activity.
- 2Follow its rules, guidance and enforcement publications as they are issued.
- 3Map each obligation it creates to a control with a named owner.
- 4Keep examination-ready evidence for its highest-risk obligations.
In Regulation Layer
From requirement to evidence.
Regulation Layer tracks its publications in the change feed, maps its obligations to your controls.
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