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What Is GASB Changing About Subsequent Events
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Subscribe18 DEC 2025 / GASB REPORTING
The Governmental Accounting Standards Board (GASB) has issued Statement No. 105, tightening subsequent events reporting and addressing inconsistencies in financial reporting across state and local governments. The move, which followed findings that approximately 30% of post year end events were not being disclosed appropriately, is aimed at improving clarity, consistency, and application, and reducing issues such as reduced comparability and user confusion.
The books are closed. The audit wrap meeting ends. Everyone is ready to move on. Then something happens right after year end, a new bond issuance, a major customer collapse, or a government restructuring nobody had on their bingo card. Now comes the uncom...
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