Final answer:
The correct body for establishing financial reporting standards for the federal government, not explicitly listed in the options, is the Federal Accounting Standards Advisory Board (FASAB). However, among the given options, the GASB is responsible for state and local government accounting standards.
Step-by-step explanation:
The organization that has the authority to establish accounting and financial reporting standards for the federal government is the Governmental Accounting Standards Board (GASB). This body is responsible for setting such standards for state and local governments. For federal entities, the responsibility largely falls to the Federal Accounting Standards Advisory Board (FASAB), not one of the options listed. Each of the other bodies mentioned has distinct areas of oversight: the Financial Accounting Standards Board (FASB) for non-governmental entities in the United States, the International Accounting Standards Board (IASB) for developing international financial reporting standards, and the Securities and Exchange Commission (SEC) has the authority to establish the accepted accounting principles for publicly traded companies but primarily oversees and enforces securities laws.