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 > Governmental Accounting Standards Board (GASB) Resources

Governmental Accounting Standards Board (GASB) Resources

The Code of Virginia requires each public employee retirement system to publish an annual report that contains financial statements prepared in accordance with GASB standards.

GASB accounting standards No. 67 and No. 68 substantially change the accounting and financial reporting requirements for public pension systems. In addition, GASB has released standards for other post-employment benefits (OPEB), such as group life and retiree health insurance credit.

Pensions

OPEB (Other Post-Employment Benefits)

In June 2015, GASB released two statements aimed at improving financial reporting by state and local governments of other post-employment benefits (OPEB), such as group life and retiree health insurance.

AICPA White Papers Related to GASB Implementation

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