Is the Governmental Accounting Standards Board in trouble? "Trouble" may be too strong a word, but it's been a bumpy couple of months for the state and local government standard-setter.In December, the Government Financial Officers Association voted to "re-assess GASB's role as the authoritative accounting standard-setting body for state and local governments."

Then, early this spring, Texas passed legislation allowing municipalities to avoid following GASB standards when reporting certain post-employment benefits.

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