Governmental Accounting and Auditing Update: Year-End Planning
Author: Eric S. Berman
| CPE Credit: |
2 hours for CPAs |
Year-end 2025 includes some major changes for states and local governments. GASB Statement Nos. 87, 91, 92, 93 and parts of GASB-99 may have an impact on your annual financial report. Hear about the latest changes to help you plan for this year’s annual audit.
Publication Date: November 2025
Designed For
Preparers of state and local government annual financial reports.
Topics Covered
- Auditing of GASB-87 (and similar)
- Auditing of GASB-91, Conduit Debt Obligations
- GASB Statement Nos. 92, 93 and 99 - Impact on other standards
- GASB Statement No. 93, Replacement of Interbank Offered Rates
- Quick Overview of auditing impact GASB Statement No. 100, Accounting Changes and Error Corrections
- Quick overview of auditing impact of GASB Statement No. 101, Compensated Abscences
Learning Objectives
- Describe the basics of GASB-87
- Describe the basics of Conduit Debt Obligations — GASB-91
- Recognize the overall provisions of GASB Nos. 92, 93, 99
- Identify the first step in determining the lease term and the first step in identifying lease components
- Identify an example of a short-term lease
- Identify the GASB Statement that dealt with the replacement of LIBOR
- Identify the area addressed by GASB Statement No. 101
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (Governmental) (1 hour), Auditing (Governmental) (1 hour)
Program Prerequisites
Basic knowledge of GAAP for state and local governments.
Advance Preparation
None
