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Accounting & Auditing Alert November 2019


 

RubinBrown's Accounting & Auditing Alert is published monthly to inform our clients and contacts about relevant technical accounting and audit-related information.


11/01/2019

GASB Proposes Guidance on Replacement of IBOR Rates with Other Reference Rates


The GASB has issued an Exposure Draft entitled Replacement of Interbank Offered Rates. Many governments have entered into agreements (particularly derivative instruments and lease agreements) in which variable payments made or received depend on an interbank offered rate (IBOR)—most notably, the London Interbank Offered Rate (LIBOR).

 

Readers should not act upon information presented without individual professional consultation.