The GASB recently issued Statement #$102$ on Certain Risk Disclosures which has generated quite a bit of controversy among state and local governments. I would like you to read this Statement, identify GASB's motivation behind this project and discuss if you agree or disagree on whether the two different types of risks disclosure have a place in government financial reporting. As you deliberate this issue, please make sure to read the section on "Basis of Conclusion" as well as the comment letters to the ED$?$ Do you feel that the disclosure of such risks have a place in the government's annual financial report?