GASB Matters

    GASB Matters 

    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
    • Resources
    • AICPA articles and alerts on pensions

    Article on Emerging Pension Issues Released:  The AICPA's State and Local Government Expert Panel has summarized significant issues related to GASB Statement No. 68, Accounting and Financial Reporting for Pensions in a nonauthoritative article.

    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.


    Key Resources

    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

     

    Advocacy

    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.

    Read other comment letters the Panel has issued to GASB to communicate its views and positions on accounting and financial reporting proposals.

     

    Copyright © 2006-2016 American Institute of CPAs.