Governmental auditing news and resources

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December 1, 2015

GASB moves toward relief

The proposal would aid certain governments with pension accounting.

November 1, 2015

GASB explores fundamental changes

The board is evaluating a reporting model that has been in place since 1999.

November 1, 2015

New guide for governmental rules implementation

GASB publishes authoritative guidance.

November 1, 2015

AICPA awards honor CPAs in government

Wendy M. Payne, CPA, executive director of the Federal Accounting Standards Advisory Board (FASAB) in Washington, received the Institute’s Outstanding CPA in Government Career Contribution Award.

October 14, 2015

GASB proposes pension standards relief for certain governments

Some governments with multiple-employer defined benefit pension plans have found it difficult to comply with GASB’s new pension accounting standards.

October 1, 2015

Accounting for software at federal agencies addressed in proposal

A recent proposal is designed to address challenges that federal government agencies have experienced in accounting for internal-use software.

October 1, 2015

GASB requiring new government tax incentive disclosures

The standard aims to provide more information for financial statement users.

September 30, 2015

GASB proposes Q&As to elaborate on recent pronouncements

GASB has issued a proposed implementation guide that contains questions and answers that are designed to clarify, explain, or elaborate on recently issued standards for state and local government financial reporting.

September 1, 2015

GASB to take a fundamental look at financial statements

The Governmental Accounting Standards Board will review the foundation of the financial reporting model for state and local governments.

September 1, 2015

GASB establishes new accounting hierarchy

The categories of authoritative GAAP are reduced from four to two.

September 1, 2015

GASB addresses external investment pools and certain component units

Separate proposals are designed to prevent confusion and clarify presentation guidance.

August 27, 2015

GASB publishes authoritative implementation guidance

GASB published a volume of authoritative implementation guidance that reflects changes resulting from a yearlong feedback process.

August 14, 2015

GASB issues standard requiring disclosure of government tax incentives

Tax incentives provided to businesses and individuals will be disclosed in more detail in state and local government financial statements as a result of new GASB rules.

August 1, 2015

GASB proposal addresses irrevocable split-interest agreements

GASB proposed changes that are designed to reduce diversity in state and local government accounting for irrevocable split-interest agreements.

August 1, 2015

GASB unveils new rules for reporting on retiree benefits

OPEB standards provide transparency for post-employment health care obligations.

July 1, 2015

Direct-method transition would require prompt attention

Public colleges and universities encountered challenges after making the switch with GASB Statement 34.

June 30, 2015

GASB addresses investment pools and component units

GASB issued two proposals that are designed to prevent confusion about external investment pool accounting and clarify requirements for presentation of certain component units.

June 30, 2015

GASB establishes new GAAP hierarchy for governmental accounting

The Governmental Accounting Standards Board issued new guidance that cuts in half the number of categories of authoritative GAAP for state and local government financial reporting.

June 12, 2015