GASB Standard-Setting Process

The GASB accomplishes its mission through a comprehensive and independent process that encourages broad participation, objectively considers all stakeholder views, and is subject to oversight by the Financial Accounting Foundation’s Board of Trustees. 

The Rules of Procedure describe the GASB’s operating procedures, including the due process activities that are to be open to public participation or observation to provide transparency into the standards-setting process. 

The diagram below depicts key aspects of the process the Board follows in setting standards for U.S. state, local, and tribal governments.