The Governmental Accounting Standards Board (GASB) just wrapped up its Post-Implementation Review (PIR) of Statement No. 72, the rulebook for fair value standard measurement in government financial statements. If you’re in the trenches whether a...
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GASB’s Fair Value Standard Gets a Reality Check
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Subscribe28 FEB 2025 / GASB REPORTING
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The Governmental Accounting Standards Board (GASB) concluded its Post-Implementation Review (PIR) of Statement No. 72, which pertains to the fair value standard measurement in government financial statements. The review confirmed the effectiveness of the rule in ensuring consistent value measurement across governments, but some challenges persist, particularly around Level 3 valuations and lack of detail in disclosures, and tweaks to the rule might be on the way.
The Governmental Accounting Standards Board (GASB) just wrapped up its Post-Implementation Review (PIR) of Statement No. 72, the rulebook for fair value standard measurement in government financial statements. If you’re in the trenches whether a...
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