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State and Local Governments - Audit and Accounting Guide

Publisher: AICPA
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Whether you are a financial statement preparer or auditor or you practice in state and local government, this guide provides you with advice for handling auditing and accounting issues common to state and local governments.

You’ll get critical “how-to” guidance on planning, performing, and reporting on your audit engagements; including financial reporting and the financial reporting entity, revenue and expense recognition, capital asset accounting, and the elements of net position. This new edition covers fair value measurement, auditing and accounting guidance for governmental pensions, and more.

This guide helps both auditors and financial statement preparers in the state and local government arena to solve complex accounting and reporting issues.

Key Benefits:

  • Updates to address accounting and auditing considerations for investments and certain equity interests as a result of GASB Statement No. 72
  • Audit guidance for investments
  • Illustrative auditor’s reports
  • Accounting and reporting guidance for governmental pensions
  • Audit guidance for governmental pensions


  • GASB Statement No. 72, Fair Value Measurement and Application
  • GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments
  • GASB Statement No. 79, Certain External Investment Pools and Pool Participants

Who Will Benefit?

  • Auditors who are auditing the basic financial statements of a state or local government in accordance with GAAS 
  • Finance personnel of a state or local government responsible for financial reporting
AICPA and GASB Government Standards Set [Subscription]
This discounted set gives you access to the full range of AICPA government-related literature combined with the GASB library, all in one convenient online subscription. Plus you’ll save money over the individual purchase prices. The set includes how-to advice and authoritative guidance, valuable discussion, best practices, hands-on tools, and much more. Follow the link above for details.
This product is also available in an online subscription format that includes the corresponding State and Local Governmental Developments - Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option at the bottom of the page and save!
Paperback , 2016
Product# AAGSLG16P
Availability: In Stock
AICPA Member:$89.00
Your Price:$109.00
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eBook , 2016
Product# AAGSLG16E
Availability: eBook Download
AICPA Member:$79.00
Your Price:$99.00
State & Local Governments Audit Guide and Audit Risk Alert
Online Subscription
Product# WGG-XX
Availability: Online Access 1 Year
For registered users only
AICPA Member:$109.00
Your Price:$139.00
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