April 10, 2020 comment letter on GASB’s Exposure Draft, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans

Members of the American Institute of Certified Public Accountants (AICPA) State and Local Government Expert Panel reviewed the Governmental Accounting Standards Board (GASB) Exposure Draft (ED), Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—an amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32, and offered comments.

The State and Local Government Expert Panel serves the needs of AICPA members on financial reporting matters and audit and attest matters relevant to audits of state and local government financial statements. The expert panel protects the public interest by bringing together knowledgeable parties in the state and local government industry to deliberate and come to agreement on key state and local government issues. It also plays a significant advocacy role through analysis and comment on exposure documents of the Governmental Accounting Standards Board (GASB) and other proposals affecting state and local governments.