- CFA Exams
- CFA Level I Exam
- Study Session 6. Financial Reporting and Analysis (1)
- Reading 20. Financial Reporting Standards
- Subject 2. Financial Reporting Standard-Setting Bodies and Regulatory Authorities
CFA Practice Question
Financial reporting standards are most likely enforced by ______.
A. only regulatory authorities, such as the SEC and IOSC
B. only standard-setting bodies, such as the FASB and IASB
C. both standard-setting bodies and regulatory bodies
Explanation: Generally, standard-setting bodies make the rules and regulatory authorities enforce the rules.
User Contributed Comments 1
| User | Comment |
|---|---|
| nmech1984 | enforced....... |