In March 2015, the Governmental Accounting Standards Board (GASB) issued Statement No. 72, Fair Value Measurement and Application. This new standard will require local governments to measure investments at fair value using a consistent definition and generally accepted valuation techniques.
Watch the webinar recording to learn how taking simple steps not only will help you reduce reporting errors, but also assist you in preparing audit-ready files and supporting documentation.
- Investments that are covered by this new standard
- Fair value definition
- Valuation techniques and approaches
- Fair value hierarchy
- Financial statement disclosures
- Effective date