GASB Invites GFOA Members to Share Information in Survey

Thursday, October 1, 2015

The Governmental Accounting Standards Board (GASB) has invited GFOA members to participate in an important survey regarding the activities that you engage in when preparing and publishing your audited annual financial reports in conformity with generally accepted accounting principles (GAAP).

The information collected will be highly valuable to the GASB in evaluating the costs and benefits associated with conforming to GAAP and the effect on the timeliness of issuing GAAP financial reports. This will be particularly important as the GASB reviews the standards related to the financial reporting model, including GASB Statement No. 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments.

The GASB understands that this is a significant request in light of the demands of your position and your available resources, particularly if this is the period during which you are preparing your financial statements. For this reason, the GASB has provided a longer-than-normal response period. Also, to assist you in completing the survey, GASB staff will be available to answer questions throughout the survey period. Staff will conduct a telephone conference to provide an overview of the survey and answer your questions on Thursday, October 8, at 4 pm (Eastern). Recordings of the teleconference will subsequently be available on the GASB website.

GFOA members are encouraged to complete the survey. You can download the survey and sign up for the teleconference at http://bit.ly/1Kr8cQS. The deadline for completing the survey is December 15, 2015.