Responsible Accounting Standards Act of 2019

Responsible Accounting Standards Act of 2019 This bill requires a standard setting body to meet certain requirements when establishing generally accepted accounting principles for purposes of securities laws. Specifically, the standard setting body must follow certain administrative procedures when adopting accounting principles. The Securities and Exchange Commission may recognize an accounting principle if the standard setting body considers the impact the accounting principle will have on the U.S. economy, market stability, and the availability of credit.