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The federal register
The government's first major attempt at the formalization of authoritative reporting standards was in 1917 with the Federal Reserve Board's publication of Uniform Accounting.
The Federal Government
It must follow the standards set by the Federal Government. real answer: comply with federal restrictions on its use.
The federal government play a role in education by setting the curriculum standards to be met by school. The federal government also provides funding for schools.
In the United States, this power has been left to each individual State. For the Federal government to establish standards, the courts would have to rule the assumption of a State power back to the Federal government as constitutional. Given the current justices on the US Supreme Court (in 2012) this is extremely unlikely to occur.
The Department of Health and Human services
regulated federalism
sulfanilamide
You can find Federal Governement standards for asbestos testing on the Environmental Protection Agencies website. They are located at http://www.epa.gov/asbestos/pubs/asbreg.html. The site has a lot of information for both professionals and consumers.
Yes, there is a need to change the GAAP because corporations can easily circumvent the standards. The federal government must be involved so that they can enforce the changes.
Yes i do, although this is really a question of personal oppinion.