Members of the American Institute of Certified Public Accountants (AICPA) State and Local Government Expert Panel in coordination with several members of the AICPA’s Auditing Standards Board (ASB) that serve on its Going Concern Task Force, and members of the Technical Issues Committee (TIC) reviewed the Governmental Accounting Standards Board (GASB or Board) Preliminary Views (PV), Severe Financial Stress and Probable Dissolution Disclosures, 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.