government Accounting

A&A

FAF Proposal Clarifies GASB's Standard-Setting Authority

Citing stakeholder concerns that trustees of the Financial Accounting Foundation were "stepping into the standard-setting role" of the GASB, the FAF on August 20 issued for comment a revised proposal to clarify the characteristics of information that the GASB may incorporate into the financial accounting and reporting concepts, standards, and guidance that it issues for state and local governments.

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