GASB No. 74 & 75: Best Practices in OPEB Accounting & Auditing

  • Monday, December 18, 2017

    10:30am – 2:29pm
  • 4
    Auditing (Governmental), Accounting (Governmental)

GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, and GASB Statement No. 75 Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, become effective in 2017and 2018, respectively. Each new statement represents a monumental change for those that prepare or audit financial statements containing other postemployment benefit plans. While duplicating and applying the reporting requirements of GASB Statement No. 68, Accounting and Financial Reporting for Pensions to the accounting and reporting for governmental OPEB, substantive differences exist between pensions and OPEB that affect implementation. This course will explain the underlying differences between OPEB and pension valuations and how to successfully implement the OPEB reporting requirements for both the plan and employer.


LEARNING OBJECTIVES When you have completed this course, you should be able to:

 Identify the new accounting and reporting requirements for public sector OPEB employers and plans.

 Determine your plan type and trusted status which impact the applicable reporting requirements.

 Calculate, account for, and report the net or total OPEB liability, OPEB expense, and deferred inflows of resources and deferred outflows of resources related to OPEB.

Determine the required employer OPEB note disclosures and RSI.

 Identify sufficient and appropriate audit evidence to support the OPEB financial statement reporting, disclosures and RSI.

 Determine various practice issues encountered while preparing or auditing the OPEB numbers and identify possible solutions.



 GASB Statements No. 74 & 75 accounting and reporting by governmental employers and plans

 Best practices for reporting and auditing OPEB under the new standards

Possible practice issues and practical solutions

OPEB note disclosures and RSI

Additional Information

Designed For

Auditors & financial managers responsible for the accounting & reporting of state & local government


American Institute of CPAs


Prior experience with governmental accounting and reporting

Field of Study

Auditing (Governmental), Accounting (Governmental)

Course Number


Level of Knowledge


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