What is your view on this? Please see below.

If I were posed this question, I would tell the government finance officer that no, GASB cant just take a break from standards setting for a while. The objective of GASB is to continuously improve the governmental accounting practice by creating, publishing and implementing new rules and policies that will ultimately benefit public entities. While the publishing of new standards can seem excessive, GASB is just doing their due diligence to ensure that state and local governments are accurately and appropriately reporting their financials. Similar to how state and local governments must stay updated to current times, so does GASB. There are many accounting, economical, political and technical changes that occur every year and this will affect the governmental accounting practice. For GASB to monitor these changes and to adjust their standards accordingly, should be seen as a positive thing to government finance officers as GASB is just doing their job. GASB standards that were published at least 5 years ago may not be applicable to current accounting situations, and therefore, need to be adjusted so that the rules are relevant.