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GASB CONSIDERS DELAYING NEW STANDARD EFFECTIVE DATES

GASB CONSIDERS DELAYING NEW STANDARD EFFECTIVE DATES

Due to COVID-19 and numerous requests from government officials the Governmental Accounting Standards Board (GASB) is considering delaying the effective date of new standards and implementation guides. This would affect any provision with an effective date starting on or for period beginning after June 15, 2018 , such as No. 84, Fiduciary Activities, and No 87, Leases. GASB is plans to have the guidance finalized by May 2020 and a draft issued in April.

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