Governmental Accounting Standards Board (GASB) Standards and Guidelines

Financial Management

The GASB is an independent organization that establishes and improves standards of accounting and financial reporting for tribal, state, and local governments. It is recognized by the accounting industry and the capital markets as the official source of generally accepted accounting principles (GAAP) for governments. NAFOA holds a seat on the Governmental Accounting Standards Advisory Council (GASAC), which is responsible for consulting with the GASB on technical issues on the GASB's agenda, project priorities, matters likely to require the attention of the GASB, and concerns of tribal governments.

NAFOA’s participation in the GASAC provides the GASB with a tribal government perspective to help make well-informed decisions and improve the standards of tribal governmental accounting and financial reporting.