Government Accounting


The Financial Accounting Foundation, the parent body of the Governmental Accounting Standards Board (GASB), commissioned the first in a series of periodic surveys asking its stakeholders to share their views on how effectively GASB fulfills its mission. Overall, the 1,200 respondents said GASB has been carrying out its standard-setting charge appropriately and effectively. A minority, however, expressed dissatisfaction with the extent to which GASB standards meet the needs of all constituents and with the cost of implementing the rules.

All three stakeholder groups—auditors, those who prepare financial statements and those who use them—called the standards development process, especially the publishing of draft proposals for public comment, highly effective. But more than half of the respondents were at least moderately concerned that comments on proposed standards repeatedly come from the same group of stakeholders. The survey results are available at www.gasb.org/perception_study/GASB_Final_Report.pdf .

SPONSORED REPORT

2018 financial reporting survey: Challenges and trends

Learn the top reporting challenges that emerged in a survey of more than 800 finance, accounting, and compliance professionals across the world, and compare them with your organization's obstacles.

PODCAST

How the skill set for today’s CFO is changing

Scott Simmons, a search expert for large-company CFOs, gives advice for the next generation of finance leaders and more, including which universities are regularly producing future CEOs and CFOs.