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FAF issues report affirming effectiveness of GASB’s consultation process policy

  • FAF (US Financial Accounting Foundation)  Image
  • GASB (Governmental Accounting Standards Board) (blue) Image

Aug 23, 2017

The Financial Accounting Foundation’s (FAF’s) board of trustees has issued a report, “Three-Year Review of GASB Scope of Authority: Consultation Process Policy,” in which it affirms the effectiveness of the Governmental Accounting Standards Board’s (GASB’s) consultation process policy.

The report is a result of a three-year review by the FAF into “whether the consultation process is meeting its objectives to resolve effectively and efficiently GASB Scope issues and to assist the GASB in accomplishing its standard-setting mission.” The FAF trustees agreed that the process should be retained without modification.

The FAF will examine the GASB’s policy again in five years. For more information, see the press release and report on the FAF’s Web site.

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