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 Government Accounting Standards Board (GASB): The non-profit organization that regulates the accounting of state and local governments

 Federal Accounting Standards Advisory Board (FASAB): An advisory committee that regulates accounting standards for the U.S. federal government

 Financial Accounting Foundation (FAF): The organization that provides oversight and regulation for other regulatory and professional bodies such as the AICPA, CFAI, and GASB

These are just U.S. regulatory bodies. Many more bodies provide oversight and regulation around the world. Plus, many nations are beginning to adopt international accounting standards (IAS), which may limit the need for individual national accounting standards; however, the standards boards will likely remain in most nations even after they adapt IAS. Looking at all the regulatory bodies that regulate other regulatory bodies, I believe that the industry as a whole may welcome some streamlining — not less regulation, necessarily (that’s a far more complicated debate), but less bureaucracy.