Internal Revenue Code (IRC): Federal tax law that governs tax record-keeping requirements and standards for maintaining financial records for tax purposes
Fair Labor Standards Act: Federal law governing employment standards if the bookkeeper is classified as an employee rather than an independent contractor
Sarbanes-Oxley Act: Federal law establishing enhanced standards for financial record-keeping and reporting, particularly relevant for publicly traded companies
Bank Secrecy Act: Federal law requiring financial record-keeping and reporting requirements to prevent fraud and money laundering
Generally Accepted Accounting Principles (GAAP): Standard accounting principles and guidelines that must be followed in financial record-keeping and reporting
AICPA Standards: Professional standards set by the American Institute of Certified Public Accountants for accounting and bookkeeping practices
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive data
State Contract Laws: State-specific laws governing contract formation, enforcement, and interpretation
Uniform Commercial Code (UCC): Standardized set of business laws governing commercial transactions across states
E-SIGN Act: Federal law ensuring the legal validity of electronic signatures and records in commercial transactions
State Licensing Requirements: State-specific regulations governing professional licensing and certification for bookkeepers
State Data Protection Laws: State-specific regulations governing the protection and handling of sensitive financial and personal data
