Which organization has the most legal authority?

A) Financial Accounting Standards Board
B) Accounting Standards Executive Committee
C) Governmental Accounting Standards Board
D) Securities and Exchange Commission

Financial Accounting Standards Board

An independent organization responsible for establishing and improving standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.

SEC

The Securities and Exchange Commission, a U.S. government agency that oversees and regulates the securities markets to protect investors.