Tribal Entities – GASB Applies to All! • Tribal Enterprises (Casinos, Hotel, Retail, Mini-Mart, Tobacco, Etc.) • Tribal Government • Tribally Sponsored Benefit Plans • Component Units
GASB’s Authority • Has no authority to require compliance with any of its standards. GAAP is not a regulation. • Governmental entity must follow GASB standards to conform with generally accepted accounting principles (GAAP) and receive a “clean” audit opinion.
• Other bond covenants, state law, local ordinances, grantor agencies, etc., may require compliance with GAAP.
BlueBird CPAs
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