GASB Releases Proposals on Subsequent Events and Updates to Implementation Guidance

The GASB has published the following two exposure drafts (EDs) for public comment:

• Subsequent Events — Would “clarify the subsequent events that constitute recognized and nonrecognized events and establish specific note disclosure requirements for nonrecognized events.”
• Implementation Guidance Update — 2025 — Would “provide guidance that clarifies, explains, or elaborates on GASB Statements.”

Comments on the ED on subsequent events are due by February 21, 2025. Comments on the ED on the implementation guidance update are due by January 24, 2025.

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