As part of every Governmental Accounting Standards Advisory Council (GASAC) meeting, GASAC members have the opportunity to raise any issues in practice that may require the attention of the Board. The GASB’s success is determined in part on its ability to address accounting and financial reporting issues on a timely basis, and the GASAC members play an important role in identifying those issues.

Comments are due on Monday, March 10th.

Please confer with members of your organization, if applicable, in order to answer the following question.

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* 1. Job Title/Position

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* 2. Tribal Employer

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* 3. What accounting or financial reporting issues, if any, are emerging in practice that you believe the Board should be made aware of?

Update on the Post Implementation Review of Statement 75

Please refer to the following documents prior to providing your feedback on Question 4-5:
  1. Memorandum
  2. Attachment A

Attachment A to this memorandum serves as an update regarding the PIR of Statement 75 which was provided to the Board at their December 2024 meeting. The project team recognizes the importance of providing interim updates given the embedded nature of PIR within the standard-setting process. However, since the PIR is still on going, Attachment A intends to provide a summary of activities completed to date and does not attempt to answer whether Statement 75 has met the three main PIR objectives discussed above. The final PIR report on Statement 75 will present the project team’s final analysis and conclusions on those objectives, which is schedule to be issued at the end of 2026.

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* 4. Is there anything about the PIR update that surprised you? Why?

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* 5. Is there any additional information you might like to provide the staff
related to other postemployment benefits?

Research Update: Cybersecurity Risk Disclosures

Please refer to the following documents prior to providing your feedback on Questions 6-9:
  1. Memorandum
The Board added a pre-agenda research project on cybersecurity risk disclosures to its technical plan at its December 2024 meeting. The objectives of this pre-agenda research project are to determine (1) the types of cybersecurity threats faced by state and local governments, (2) whether and how cybersecurity risks are currently disclosed in the financial statements, and (3) whether financial reporting guidance has the potential to address user needs for this information.

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* 6. What information about preventative measures related to
cybersecurity risks do you believe is valuable?

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* 7. What information about corrective measures related to cybersecurity
risks do you believe is valuable, and when would you want to receive
it?

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* 8. Do you believe that disclosing such information in notes to financial
statements may affect a government’s exposure to cybersecurity
risks?

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* 9. What other feedback do you have, if any, regarding the disclosure of
cybersecurity risks in notes to financial statements?

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