Which organization is granted the authority to promulgate accounting and reporting standards from the SEC?

The organization that is granted the authority to promulgate accounting and reporting standards from the Securities and Exchange Commission (SEC) is the Financial Accounting Standards Board (FASB). FASB is the designated body responsible for establishing and improving standards of financial accounting and reporting. This role is crucial because the FASB's standards are recognized as authoritative and are used by companies to prepare their financial statements.

The Financial Accounting Foundation, while related, serves a different purpose as it oversees the FASB and the Governmental Accounting Standards Board (GASB) but does not directly issue accounting standards. The International Public Sector Accounting Standards Board focuses on the international aspects of public sector accounting standards and is not under the SEC's authority. Similarly, the Federal Accounting Standards Advisory Board primarily deals with federal government accounting standards and does not have authority granted by the SEC.

Overall, the FASB’s role, under the oversight of the Financial Accounting Foundation, is to ensure that the financial reporting framework remains relevant and effective for the users of financial statements, which is why it is the correct answer to the question regarding standards promulgation.