Announcements

  • Actions taken this week by the Financial Accounting Foundation Board of Trustees involving the GASB.

    The Trustees issued for public comment a revised proposal that helps clarify the boundaries for the GASB’s authority to issue concepts, statements and guidance while also ensuring the GASB’s independence as the financial accounting and reporting standard setter for U.S. state and local governments. You may review a detailed http://bit.ly/17fh5Kk press release and the complete http://bit.ly/16LKV8q proposal by clicking on the embedded links. Feel free to send your comments by email to mailto:GASBscope@f-a-f.org; or “snail mail” them to the following address by September 30, 2013: GASB Scope, Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856. The Trustees approved the post-implementation review (PIR) report of GASB Statements No. 10, Accounting and Financial Reporting for Risk Financing and Related Insurance Issues, http://bit.ly/1feHMzA GASB 30 and No. 30, Risk Financing Omnibus—an amendment of GASB Statement No. 10, http://bit.ly/1di3TZc GASB 30 which establish accounting and financial reporting standards for risk financing and insurance-related activities of state and local governments, including public risk pools. The PIR team concluded that both GASB standards achieve their purpose of improving the consistency and comparability in measuring U.S. state and local governments’ insurance activities. You may review a detailed http://bit.ly/17hyiRj press release and the PIR team’s http://bit.ly/1feLitJ report by clicking on the embedded links.