Question: Who does set those standards? And how does the SEC exercise its authority? The SEC has delegated its authority to set the accounting principlessecurities principlesaccounting

Who does set those standards? And how does the SEC exercise its authority?
The SEC has delegated its authority to set the
accounting principlessecurities principlesaccounting principles
that must be followed by U.S. companies that
areare notare
listed on stock exchanges to the FASB. The SEC
holdsexercisesexercises
its authority over the FASB primarily through input and persuasion rather than edict.

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