Regulatory Bodies By Jason Eastridge University of Phoenix XACC/280 Daneene Barton January 28‚ 2012 There are many major regulatory bodies in the financial industry. I found there to be about nine major bodies. First you have the FDIC‚ Federal Deposit Insurance Corporation‚ which insures al major banks deposits. The FDIC also handles and approves any bank mergers and audits. The FED‚ Federal Reserve System‚ basically is the manager of the money supply to banks and handles some banking regulations
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The nine major regulatory bodies are: Internal Revenue Service (IRS) which is the federal agency responsible for administering and enforcing the Treasury department revenue laws through the assessment and the collection of taxes‚ determination of pension plan qualifications‚ and related activities‚ Securities and Exchange Commission (SEC) which is an independent federal agency that is responsible for regulating securities market in which stocks and bonds of the major companies is traded‚
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The major regulatory bodies include: Internal Revenue Service‚ Securities and Exchange Commission‚ Financial Accounting foundation‚ Government Accounting Standards Board‚ Federal Accounting Standards Advisory‚ International Accounting Standards Board‚ Public Company Accounting Oversight Board‚ and the American Institute of Certified Public Accountants. The major regulatory body Internal Revenue Service‚ also known as the IRS‚ has a function of enforcing all the internal revenue laws. Each taxpayer
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There are nine major regulatory bodies. They are: 1. The Internal Revenue Service (IRS). The IRS was established in 1913. Its purpose is to administer and enforce the internal revenue laws. Its stated mission is to provide America’s taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all. (Internal Revenue Service‚ 2008) 2. Securities and Exchange Commission (SEC). The Securities and Exchange
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ROLE OF REGULATORY BODIES INTRODUCTION Health Professionals such as nurses doctors‚ Pharmacist and many others are regulated and licensed by regulatory bodies as required by provincial legislation. All nurses are required to be licensed to practice with their designated provincial nursing regulatory body. Legal responsibility in nursing practice is becoming of greater importance as each year passes. In order to provide safe and competent nursing care an understanding of legal boundaries is very
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4.3 Explain the roles of regulatory bodies relevant to the education sector which exist to monitor and enforce the legislative framework As well as local and national government schools are answerable to regulative bodies and these include‚ the schools governing body‚ the health and safety executive and OFSTED. All of whom exist to monitor and enforce legislation. The schools governing body is built up from differing members of the school community‚ including school management‚ parents‚ teaching
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REGULATORY BODIES OF INDIA Financial Stability and Development council: The idea was first mooted in a committee headed by Raghuram Rajan in 1998. It is an apex regulatory body constituted by Government of India. It is an initiative to be better prepared for any future economic meltdown by regulating the economic assets. The aim of the body is to provide a stable financial sector development and inter-regulatory coordination. The body consists of: Chairperson: The Union Finance Minister of
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The following are the major regulatory bodies in finance and accounting: • The Financial Accounting Standards Boards (FASB) o This body is responsible for setting standard for reporting information on finances to the public. The principles of the GAAP are used to establish the standards set by this governing body. The body is responsible to protect investors and the public from companies that may commit fraud. This brody serves as a source to resolve issues surrounding accounting and reporting
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What are the major regulatory bodies and their functions? IRS (Internal Revenue Service): It is the oldest in the United States regulatory body also called the internal revenue service or IRS. The main goal of IRS is to manage and implement the internal revenue law. Their responsibility is to help individuals to understand their tax obligations as well as to tax collection. SEC (Security and Exchange Commission): SEC also called the Securities and Exchange Commission. Their main objective is
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The major function of ball mill lining board is to protect the cylinder of ball mill from the direct clashing and friction of grinding media and material inside ball mill. Meanwhile‚ the ball mill lining board with different shape could be used to adjust the moving pattern of grinding media inside ball mill to strengthen the grinding effect of grinding media to material and increase the grinding efficiency of ball mill and output of ball mill. With the number of ball mill manufacturer’s increasing
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