World War I began in 1914 and ended in 1918
Focused the U.S. on the comprehensive accounting reform
Happened on Black Tuesday and the following day the market dropped nearly 12 percent.
Had Substantial authoritative support
The Securitires Act of 1934 chartered the SEC
AICPA was dated back to 1887 where it was called the American Association of Public Accountants.
Was formed in 1973 along with the establishment of the financial accounting Standards Board.
Became the designated organization in the private sector for standards that govern the preparation of corporate financial reports along with not-for-profit organizations.
The GASB organization was formed under the FAF umbrella to issue standards and other communications that result in decision-useful information for users of government financial reports.
The act was passed by U.S. Congress in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations.