The body that has the power to prescribe the accounting practices and standards to be employed by companies that fall under its jurisdiction is the

Security and Exchange Commission (SEC).

Explanation:

The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.

In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.

The body that has the power to prescribe the accounting practices and standards to be employed by companies that fall under its jurisdiction is the SEC.

if you do not file your taxes you will not have a job, and you credit rate will go down.

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