Academic journal article The Government Accountants Journal

GFOA Missed the Mark

Academic journal article The Government Accountants Journal

GFOA Missed the Mark

Article excerpt

As a longtime member of both the AGA and the Government Finance Officers Association (GFOA), I was extremely disappointed and chagrined by the action taken at the GFOA National Conference with respect to the Governmental Accounting Standards Board (GASB) Statement No. 34.

GFOA!s position at its national conference was: "encourage its members not to implement the infrastructure provisions of GASB 34, threaten to withhold GFOA!s funding to GASB if GASB proceeded with implementation of Statement 34; and to allow governments not complying with the infrastructure provisions to continue to participate in the GFOA's Certificate of Achievement for Excellence in Financial Reporting Program."

I was relieved to see that as usual AGA took a very professional and comprehensive approach to the value and need for such a standard.

As supporters and proponents of GASB 34, both Tom Allen, GASB Chairman, and I were interviewed in Stratford, CT last summer by CNN Headline News for our views on the standard. …

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