15 U.S. Code § 7218 - Accounting standards
The Commission shall promulgate such rules and regulations to carry out section 77s(b) of this title as it deems necessary or appropriate in the public interest or for the protection of investors.
Nothing in this Act, including this section and the amendment made by this section, shall be construed to impair or limit the authority of the Commission to establish accounting principles or standards for purposes of enforcement of the securities laws.
The Commission shall conduct a study on the adoption by the United States financial reporting system of a principles-based accounting system.
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