WASHINGTON — While the Governmental Accounting Standards Board is widely accepted as the financial accounting standards setter for state and local governments, stakeholders disagree about the scope of its authority and its process for setting standards, according to a study released Monday.

The study, commissioned in May 2011 by GASB's overseer, the Financial Accounting Foundation, was led by three professors with governmental expertise from different universities who worked as a team.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.