Keeping current on changing GASB standards and GAAP requirements can be challenging. These SAO checklists, worksheets, guides and best practices can help you assess reporting risks, verify data accuracy, and ensure you have considered all of the significant elements of your financial statements, including complex topics like asset retirement obligations.
Best Practices: Implementing accounting standards
These best practices can help local governments make implementing any new standards from the Governmental Accounting Standards Board (GASB) a regular and manageable part of preparing their financial statements.
Last updated: September 2022
Checklist: Data quality
This checklist can help local governments verify the accuracy of the data they submit for their annual reports.
Last updated: August 2021
Checklist: Financial reporting risk assessment
Risk assessments are essential to a strong control environment, allowing you to proactively identify and respond to risks or challenges. This customizable checklist can help local governments identify risks, prioritize them, and determine the appropriate response.
Last updated: June 2022
Guide: Identifying asset retirement obligations
This guide offers tips and suggestions to help local governments reporting under GAAP identify possible asset retirement obligations (AROs) in accordance with Governmental Accounting Standards Board (GASB) Statement No. 83.
Last updated: October 2020
Checklist: Preparing financial statements (GAAP)
This customizable checklist can help local governments reporting under GAAP ensure they do not miss important steps when preparing their financial statements.
Last updated: March 7, 2023
Best practices: Tracking capital asset information
These best practices and other suggestions can help local governments improve their methods for identifying and tracking capital assets in a financial reporting system. These best practices are intended for governments that report using generally accepted accounting principles (GAAP).
Last updated: 2018
Checklist: Capital assets
Local governments can use this checklist to help ensure accurate and complete capital asset reporting at year-end, or to improve policies, processes and internal controls. It’s for GAAP entities only.
Last updated: January 2022