TITLE

GASB Faces $1.9M Deficit Partly Due to Low Bond-Fee Payments

AUTHOR(S)
Hume, Lynn
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/10/2006, Vol. 356 Issue 32378, p32
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the problem faced by the Governmental Accounting Standards Board for the fiscal 2006 in the U.S. A maximum of 1.9 million dollar budget deficit is created due to the non-payment of state and local municipal bond issuers in addition to the enactment of the federal Sarbanes-Oxley Act which effectively dried up the contributions that the accounting firms were making to the Financial Accounting Foundation.
ACCESSION #
20944791

 

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