GASB: Who We Are, What We Believe and Where We Are Going By Joel Black and Alan Skelton We are looking forward to being with you in Phoenix at the ASCPA Governmental Accounting Conference. At the conference, we will brief you on what the Board is working on, what is on the horizon and answer any questions you may have about the GASB. In this article, we wanted to take a step back to share our broader perspective on who we are, what we believe and where we are going as an organization.
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AZ CPA JANUARY/FEBRUARY 2022
Who We Are As you are aware, the GASB exists to make sure users of state and local governmental financial statements have access to the important information they need to evaluate governments’ financial activity and make decisions about it. GASB provides the fundamental, foundational rules that allow the financial information governments report to be relevant, understandable, timely, consistent and reliable. Our work helps ensure the marketplace, legislators, analysts, investors, people who live in the communities and other stakeholders have the information they need to assess fiscal accountability. GASB stakeholders can trust the information because it is not presented in any way a government chooses, but in the way an independent third party – the GASB – requires its presentation under generally accepted accounting principles (also known as GAAP), the gold standard in governmental financial reporting.
