GASB Revamps Procedures Related to Collecting Implementation Information

The GASB has announced that it is “revamping its procedures for collecting implementation information — by starting the process before major new standards have been implemented and continuing through the first and second years of applying the standards.”

These implementation efforts will begin with the collection of information about the following four GASB Statements:

• Statement 72, Fair Value Measurement and Application.
• Statement 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions.
• Statement 84, Fiduciary Activities.
• Statement 87, Leases.

In addition to selecting a random group of governments to participate in surveys related to all four Statements, the GASB is seeking volunteers to work on the new procedures associated with Statements 84 and 87.

For more information, see the press release on the GASB’s Web site.