GFOA Executive Board GUIDELINES FOR RESPONDING TO PROPOSED STANDARDS

GAAFR Review, January, 2008 by Gauthier, Stephen J

At its Fall 2007 meeting, the Executive Board of the Government Finance Officers Association (GFOA) issued formal guidelines for responding to proposed accounting and auditing standards, such as those issued by the Governmental Accounting Standards Board (GASB) and the U.S. Government Accountability Office (GAO).

Background

The GFOA describes its mission as follows:

The purpose of the Government Finance Officers Association is to enhance and promote the professional management of governments for the public benefit by identifying and developing financial policies and practices and promoting them through education, training and leadership.

The GFOA has further identified seven objectives to achieve this mission, including the following:

Raising...

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