Final answer:
The Securities and Exchange Commission (SEC) holds the original authority to set accounting standards for publicly traded companies in the United States, as established by federal legislation.
Step-by-step explanation:
The original authority to set accounting standards for publicly traded companies in the United States is the Securities and Exchange Commission (SEC). This body was established by the Federal Securities Act and subsequent legislation to regulate the investment industry. The SEC's role includes ensuring that such companies adhere to proper accounting practices and adequate disclosure of financial information to protect investors. While other bodies like the American Institute of Certified Public Accountants (AICPA), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB) do play significant roles in developing and promoting accounting standards, it is the SEC which holds the foundational legal authority in this regard.