The AICPA Governmental Audit Quality Center (GAQC) helps its members meet the challenges of performing quality audits. One significant industry the GAQC focuses resources on is audits of state and local entities. The AICPA’s State and Local Governments Expert Panel (SLGEP) serves the needs of AICPA members on financial and business reporting and audit and attest matters. The Expert Panel protects the public interest by bringing together knowledgeable parties in the state and local government industry to deliberate and come to agreement on key state and local government issues.
Key Interest Areas
GASB Pensions: Issues & Resources – one of the top areas of focus in governmental accounting is pensions. This page consolidates the various resources available to practitioners to assist with understanding the new standards and developing appropriate audit strategies, including:
- Pension related auditing interpretations
- AICPA articles and alerts on pensions
Updated Guide Recently Released: A new chapter addressing GASB Pensions for the 2015 edition of the AICPA Audit and Accounting Guide, State and Local Governments
OPEB Standards Finalized: The GASB finalized standards on Other Post Employment Benefits.
To help CPAs meet the challenges of performing quality audits in the unique and complex governmental auditing arena, the Center has assembled a wide variety of resources and tools, including:
- Archived GAQC Events on GASB Matters including the following pension-related topics:
- GASB Pensions: Are You Ready for June 30, 2015, Audit Implementation?
- Overview of the New GASB Pension Accounting Standards
- The GASB's Pension Standards:
- Part 1: Considerations for Cost-Sharing Plans, Participating Employers, and their Auditors
- Part II: Considerations for Agent Plans, Participating Employers, and their Auditors
Comment Letters to GASB
The SLGEP routinely responds to GASB's requests for input on due process documents to communicate its views and positions on accounting and financial reporting proposals.
- SLGEP members are currently reviewing and drafting responses to the following GASB due process document which is available through GASB's website:
- March 31, 2017 comment letter on GASB's invitation to Comment, Financial Reporting Model Improvements - Governmental funds
- February 3, 2017 comment letter on GABS's Exposure Draft, Implementation Guide No. 201X-Y, Implementation Guidance Update-201X
- December 23, 2016 comment letter on GASB's Exposure Draft, Implementation Guide No. 201X-X, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans
Read other comment letters the Panel has issued to GASB to communicate its views and positions on accounting and financial reporting proposals.