Submit Comments to GFOA on Due Process Documents

GFOA engages with the Governmental Accounting Standards Board (GASB), the American Institute of CPAs (AICPA), the Government Accountability Office (GAO) and other accounting and auditing standard setting organizations to advocate for GFOA member interests. To assist in these efforts, GFOA seeks feedback and comments from members on proposed standards and other activities of these organizations.   

The more comments we receive, the more specific your comments are, and the more directly-relevant experiences of practitioners that we can convey, the more effective our advocacy efforts can be.  To provide comments, please complete the form below and upload any additional supporting documents.  

Current Proposals

The American Institute of CPAs (AICPA) issued an exposure draft of proposed revisions to its code of professional conduct (Code) related to practice structures for firms, to address private equity ownership interests in affiliates (network firms) of CPA firms that perform independent audits. The code has ramifications for independent audit firms generally, regardless of AICPA membership, through the regulations of most state boards of accountancy and incorporation of independence standards into Government Auditing Standards (“Yellow Book”). The proposal does not specifically address any potential risks to auditor independence as that pertains to governmental audit clients, although such risks may be different from those addressed for private-sector audit clients.