What is your opinion on this? Please see below.

GASB establishes guidelines in order to promote conformity, consistency, transparency and comparability of financial statements among governments to provide useful information for stakeholders. Prior to creating guidelines, GASB performs proper due diligence and an inclusive process to assure that the guidelines serve to reflect the true representation of a governments financial condition. As such, yielding to the demand of Texas officials and rescinding Statement 45 would result in setting a precedent that could create chaos in accountability. If other governments followed suit, this would result in a lack of consistency and comparability and trickle down to a problematic situation for auditors and users. Additionally, how would auditors provide an opinion when there are multiple variables inconsistent with GAAP? It would seem prudent to not become the accounting version of the wild wild west.