Accounting- Institute of Internal Auditing- IASC

Accounting is a major for students in the College of Business or those who choose to go to a Business School. These financial classes can be challenging and to earn a degree academics must deal with assignments that require attention to details.

    •    International Accounting Standards Board is an international company that is based in London.  This organization is responsible for setting mostly all standards dealing with the procedures used in accounting.  These standards are used in over 100 countries across the world.

 

    •    International Accounting Standards Committee is a private sector organization “ body working to achieve uniformly in the accounting principles that are used by businesses and the other organizations for financial reporting around the world”  IASC’S goals are to “formulate and publish interest accounting standards to be observed in the presentation of financial statements and to promote worldwide acceptance” the organization want to develop standardized procedures that are recognized and used by the International Organization of Securities Commissions.

    •    International Accounting Standards is now the IFRS.

    •    International Financial Reporting Standards took over the responsibilities of the International Accounting Standards.  Its job is to set standards in accounting.  They established a common language for businesses across the globe in shareholding and trading.

    •    Public Company Accounting Oversight Board is a nonprofit organization established by Congress to oversee audits of public companies, brokers, dealers.  It is to protect investors and share important information with the public.  The organization supply accurate and independent audit reports.

    •    According to the information I read, all names listed above have the best interest of the business world in common.  Some are public and some on the private sector.  They all believe in setting and following guidelines and standards that will help businesses to communicate with each other regardless to the national language they may speak.

    •    Institute of Internal Auditing serves over 165 countries and its headquarters is located in Florida. They are responsible for internal audits. They are also known as the global voice in the business world.  They are advocates as well as educators who creates job opportunities and offer certification programs.

    •    International Auditing and Assurance /standards Board is an independent standard-setting body serving all public.  This board sets standards for auditing, assurance and providing other needs.
    •    International Auditing Practice Committee provides accounting and financial reporting guides for professional.

    •    International Standard on Auditing assists small business owners in understanding how auditors test procedures are done. Helping them to understand decisions are based on a qualified report as well as a unqualified report.

    •    Public Company Accounting Oversight Board is a nonprofit organization established by Congress to oversee audits of public companies, brokers, dealers.  It is to protect investors and share important information with the public.  The organization supply accurate and independent audit reports.