GASB's Future as the Independent Standards Setter for State and Local Governments

Loyd, D. Scot; Crawford, Michael A.
June 2007
Governmental GAAP Update Service;6/30/2007, Vol. 7 Issue 12, p1
Trade Publication
The article presents information on issues being faced by the U.S. Governmental Accounting Standards Board (GASB) that could threaten its existence as the independent standards setter for state and local governments. It states that the Government Finance Officers Association (GFOA) has called for the abolition of the GASB. It cites GASB's opposition to the accounting principles for accounting and financial reporting for other post-employment benefit (OPEB) obligations in Texas.


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