It figures that it would be Tom Allen who took on the single biggest accounting issue in the country, if not the world.It was Allen who, as chairman of the Governmental Accounting Standards Board, ushered in Statement 34, which moved state and local governments to accrual accounting - arguably one of the biggest changes ever to impact governmental accounting.
Now, as chairman of the Federal Accounting Standards Advisory Board, Allen has taken on an even bigger challenge: to develop a means of reporting on the fiscal sustainability of federal policies.
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