GASB Releases Postimplementation Review Report on Fair Value Statement
February 27, 2025
The GASB has published a postimplementation review (PIR) report on Statement No. 72, Fair Value Measurement and
Application. Among other conclusions, the PIR report indicates
that the fair value standard has achieved its overall purpose, its benefits exceed
its costs, and its application provides users of governmental financial reports with
“decision-useful information, including fair value measurements that are highly
relevant to the analysis of governmental financial information and fair
value-related disclosures.”
For more information, see the press release on the GASB’s Web site.