Government Industry
Industry: Email Alert RSS FeedBenefits & Challenges of Working with Other Standards-Setters
Journal of Government Financial Management, The, April, 2008 by Betz, Kip; Mead, Dean Michael; Attmore, Robert H
In our opinion, it is essential that standards-setters in the governmental arena not only be aware of the efforts and activities that their colleagues are engaged in-both domestically and abroad-but also that they reach out and work together.
The Governmental Accounting Standards Board (GASB) endeavors to find opportunities to work with other standards-setters on projects of mutual interest and toward common goals. GASB's work takes place against the backdrop of gathering momentum for establishing a single set of high-quality accounting and reporting standards for exchange-listed, private sector companies around the world. The chairman of the Financial Accounting Standards Board (FASB) has said that the United States needs to develop a plan for converging generally accepted...
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