New letter from John Kayser, member of TIA’s Board of Directors, on GASB’s proposed concept statement, includes “It is of the utmost ethical and moral importance that the accounting and reporting standards for state and local governments be of higher quality than those for non-governmental organizations … This is not the situation for State governments and local governmental entities. Their accounting and reporting standards are severely deficient in providing the most useful information to the various users for accountability purposes. ... It is unethical and immoral not to have accounting and reporting standards that do not present the financial viability/sustainability of the entities and their ability to provide the services as expected.”
Read the full article on: Governmental Accounting Standards Board