The Governmental Accounting Standards Board has released a new Implementation Guide with questions and answers about GASB’s new standards on accounting and financial reporting for post-employment benefits other than pensions, such as retiree health care.
Processing Content
Implementation Guide No. 2017-3, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), answers a series of questions explaining the requirements of the standard, GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions.
The guide also deals with some issues related to another standard, Statement No. 74, Financial Reporting for Post-employment Benefit Plans Other Than Pension Plans. The free downloadable guide is available through GASB’s website. A print version will be available via the GASB Store in the weeks ahead.
A significant proportion of firms have yet to implement new audit technologies and methods, citing poor training, lack of quality data, lack of systems access and lack of funds as the primary reasons.
CPA Firm Management Association appoints board of directors; EY names new Louisville office managing partner; and more news from across the profession.