GASB proposes implementation guidance on subscription-based IT arrangements

GASB issued proposed implementation guidance on Monday that is intended to clarify, explain, or elaborate on existing guidance on subscription-based information technology arrangements (SBITAs).

The exposure draft, Additional Proposal for Implementation Guidance Update — 2023, addresses the issue of whether a cloud computing arrangement meets the definition of an SBITA as defined in GASB Statement No. 96, Subscription-Based Information Technology Arrangements.

If cleared as final implementation guidance, the question and answer in the supplemental exposure draft will be added to previously issued questions and answers to result in a final implementation guide, Implementation Guidance Update — 2023.

Comments on the proposed implementation guide will be accepted through March 10. They may be submitted by email to director@gasb.org or through an electronic input form.

— To comment on this article or to suggest an idea for another article, contact Kevin Brewer at Kevin.Brewer@aicpa-cima.com.