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The Richard C. Adkerson Gallery on the SEC Role in Accounting Standards Setting

Glossary of Terms


AAA
American Accounting Association
AAER
Accounting and Auditing Enforcement Release of the SEC
ACCA
Association of Chartered Certified Accountants
ACFE
Association of Certified Fraud Examiners
AcSEC
Accounting Standards Executive Committee
ADC
Acquisition, development, and construction
AGA
Association of Government Accountants
AIA
American Institute of Accountants
AICPA
American Institute of Certified Public Accountants
AIMR
Association for Investment Management and Research
AMA
American Management Association
AMEX
American Stock Exchange
APB
Accounting Principles Board
APBO
Accounting Principles Board Opinion
AR
Accounting and review section of AICPA Professional Standards service
ARB
Accounting Research Bulletin
ARSC
Accounting and Review Services Committee
ASB
Auditing Standards Board
ASR
Accounting Series Release of the SEC
ASU
Accounting Standards Update (to the FASB Codification)
AT
Attestation section of AICPA Professional Standards service
AU
Auditing section of AICPA Professional Standards service
AudSEC
Auditing Standards Executive Committee
BCBS
Basel Committee on Banking Supervision
BIS
Bank for International Settlements
BL
Bylaws section of AICPA Professional Standards service
BRT
Business Round Table
CA
Chartered accountant
CAG
Consultative Advisory Groups of IFAC
CAP
Compliance Advisory Panel of IFAC
CAQ
Center for Audit Quality
CEO
Chief executive officer
CFE
Certified fraud examiner
CFO
Chief financial officer
CGFM
AGA Certified Government Financial Manager
CGFS
Committee on the Global Financial System
CICA
Canadian Institute of Chartered Accountants
CMA
Certified Management Accountant of IMA
CON
Statement of Financial Accounting Concepts of the FASB
COSO
Committee of Sponsoring Organizations of the Treadway Commission
CPA
Certified Public Accountant
CPE
Continuing Professional Education
CPSS
Committee on Payment and Settlement Systems
CRT
Credit risk transfer
DIG
Derivatives Implementation Group of the FASB
EC
European Commission
ECB
European Central Bank
EDGAR
SEC system of Electronic Data Gathering, Analysis and Retrieval
EDP
Electronic data processing
EITF
Emerging Issues Task Force of the FASB
EPS
Earnings per share
ESOP
Employee stock ownership plan
ET
Ethics section of AICPA Professional Standards service
ETF
Exchange-traded fund
EURORAI
European Organisation of Regional External Public Finance Audit Institutions
FAF
Financial Accounting Foundation
FASAC
Financial Accounting Standards Advisory Council
FASB
Financial Accounting Standards Board
FATF
Financial Action Task Force on Money Laundering
FDI Act
Federal Deposit Insurance Act
FDIC
Federal Deposit Insurance Corporation
FDICIA
Federal Deposit Insurance Corporation Improvement Act of 1991
FEI
Financial Executives International
FIN
FASB Interpretation of an SFAS
FINRA
Financial Industry Regulatory Authority
FinREC
Financial Reporting Executive Committee of AICPA
FRR
Financial Reporting Release of the SEC
FSB
Financial Stability Board
FTB
FASB Technical Bulletin
GAAP
Generally accepted accounting principles
GAAS
Generally accepted auditing standards
GAO
US Government Accountability Office
GASB
Governmental Accounting Standards Board
HLI
Highly-leveraged institution
HLT
Highly-leveraged transaction
IAASB
International Auditing and Assurance Standards Board
IADI
International Association of Deposit Insurers
IAG
Investor Advisory Group of the PCAOB
IAIS
International Association of Insurance Supervisors
IAPS
International Auditing Practice Statements
IAS
International Accounting Standard
IASB
International Accounting Standards Board
IESBA
International Ethics Standards Board of Accountants
IFAC
International Federation of Accountants
IFIAR
International Forum of Independent Audit Regulators
IFRIC; IFRS IC
IFRS Interpretations Committee
IFRS
International Financial Reporting Standards
IFRS for SMEs
IFRS for small and medium-sized entities
IIA
Institute of Internal Auditors
IMA
Institute of Management Accountants
IMF
International Monetary Fund
INTOSAI
International Organization of SAIs
IOSCO
International Organization of Securities Commissions
IPTF
International Practices Task Force of CAQ
ISA
International Standard on Auditing
ISAE
International Standard on Assurance Engagements
ISQS
International Standard on Quality Control
ISRE
International Standard on Review Engagements
ISRS
International Standard on Related Services
ISSAI
International Standard of SAIs
ITAC
Investors Technical Advisory Committee of the FASB
ITC
Investment tax credit
ITF
Investors Task Force of the FASB
MAS
Management advisory services
MD&A
Management's discussion and analysis
NAA
National Association of Accountants
NAC
Not-for-Profit Advisory Committee of the FASB
NAIC
National Association of Insurance Commissioners
NASACT
National Association of State Auditors, Comptrollers and Treasurers
NASBA
National Association of State Boards of Accountancy
NASD
National Association of Securities Dealers
NYSE
New York Stock Exchange
NYSSCPA
New York State Society of CPAs
OCA
Office of the Chief Accountant of the SEC
OCBOA
Other (than GAAP) Comprehensive Basis of Accounting
OCC
US Office of Comptroller of the Currency
OECD
Organization for Economic Cooperation and Development
OTC
Over-the-counter
PCAOB
Public Company Accounting Oversight Board
PCC
Private Company Council
PCFRC
Private Company Financial Reporting Committee of the FASB
PCPS
Private Company Practice Section of the AICPA
PIOB
Public Interest Oversight Board of IFAC
PITF
Professional Issues Task Force of the SECPS
POB
Public Oversight Board
PPEC
Professional Practice Executive Committee of CAQ
QC
Quality Control section of AICPA Professional Standards service
QCIC
Quality Control Inquiry Committee
QR
Quality Review Program Manual
QREC
Quality Review Executive Committee
RAP
Regulatory accounting principles
RICO
Racketeer Influenced and Corrupt Organizations Act
S&L
Savings and loan
SAB
Staff Accounting Bulletin of the SEC
SAG
Standing Advisory Group of the PCAOB
SAI
Supreme Audit Institution
SAS
Statement on Auditing Standards
SBAC
Small Business Advisory Committee of the FASB
SEC
Securities and Exchange Commission
SECPS
SEC Practice Section of the AICPA
SFAS
Statement of Financial Accounting Standards of the FASB
SFTF
Smaller Firm Task Force of CAQ
SMEs
Small and medium sized entities
SOP
Statement of Position (issued by AcSEC and ASB)
SOX
Sarbanes-Oxley Act of 2002 (also SarbOx and S-Ox)
SQCS
Statement on Quality Control Standards
SRO
Self-regulatory organization
SSAE
Statement on Standards for Attestation Engagements
SSARS
Statement on Standards for Accounting and Review Services
VRG
Valuation Resource Group of the FASB
WB
World Bank
XBRL
eXtensible Business Reporting Language

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