Accounting -- Associations
Following are the associations which are either directly involved with accounting standards setting or closely allied with the industry
AMERICAN ACCOUNTING ASSOCIATION. Promotes excellence in accounting education, research, and practice. Publishes journals and research papers; strong academic bent.
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS. A professional association supporting the interests of its membership, composed of CPAs. From 1939 to 1973 the AICPA was the organization designated to establish authoritative standards of financial accounting and reporting. The AICPA now functions as a lobbyists for issues of concern to its membership, including its code of ethics and continuing education guidelines.
CFA INSTITUTE. Enables education opportunities, professional conduct and ethics, and standards of practice for portfolio managers, strategists, consultants, educators, and other investment specialists.
FINANCIAL ACCOUNTING STANDARDS BOARD. Since 1973, FASB has been the organization designated to establish authoritative financial accounting and reporting standards for businesses and other private-sector organizations.
FINANCIAL EXECUTIVE INSTITUTE. Membership driven professional association for senior level financial executives. Provides peer, networking opportunities, emerging issues alerts, professional development, and advocacy services; actively engages the FASB, IASB, SEC, and legislators in dialogues to represent viewpoints of its membership.
GOVERNMENTAL ACCOUNTING STANDARDS BOARD. Since 1984, GASB has been the organization designated to establish authoritative financial accounting and reporting standards for state and local government entities.
THE INSTITUTE OF INTERNAL AUDITORS. Serves as a watchdog and resource on significant issues concerning internal auditing, governance and internal control, IT audit, education, and security; promotes certification, education, research, and technological guidance.
INSTITUTE OF MANAGEMENT ACCOUNTANTS. Focuses on the practice of management accounting and financial management trends and new developments; publishes several key journals and research papers.
INTERNATIONAL ACCOUNTING STANDARDS BOARD. Formed in January 2001, the IASB replaced its predecessor, the International Accounting Standards Committee (IASC) as the international standards setter. Looking towards greater formalization of international standards, IASB is structured similarly to the FASB. It is the intention of the IASB, in collaboration with the FASB and other accounting focused organizations, to develop a single set of binding international accounting standards.
NATIONAL ASSOCIATION OF STATE AUDITORS, COMPTROLLERS, AND TREASURERS. A national advocate for financial industry excellence, NASACT addresses issues of education, training, technology, best practices, and collaboration for state financial management and leadership.
SECURITIES AND EXCHANGE COMMISSION. In addition to the AICPA and FASB, the SEC also plays a key role in the standards setting process. Under the Securities Exchange Act of 1934, the SEC has statutory authority to establish financial accounting and reporting standards for publicly held companies. It supports as "de facto" the accounting standards established by the private sector, provides broad support to the FASB, and helps to identify emerging issues that it thinks FASB should address. However, with the recent number of accounting-related scandals (e.g. Enron), look for the SEC to get more directly involved in the oversight of the standards setting process and the legislating and monitoring of corporate governance.
SECURITIES INDUSTRY ASSOCIATION. Members include investment bankers, broker-dealers, and mutual fund managers; services include advocacy, education, codes of conduct and ethics, and discussion of current industry issues and challenges.
