NASACT

AcronymDefinition
NASACTNational Association of State Auditors, Comptrollers, and Treasurers
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In the comment letters, the GFOA stated, "Governments cannot be asked to incur significant costs to provide information of no demonstrative value to decision makers." The AICPA similarly asserted that it "tries to meet so many user needs that it fails to be effective." Other major constituents that expressed opposition to Statement 34 included the NASACT and large public accounting firms.
The AICPA, GFOA, NASACT, The International City/County Management Asscociation (ICMA), Ernst & Young, KPMG, and Deloitte & Touche were among the hundreds opposed to GASB 34 in part or in whole.
A total of 105 surveys was sent in early 1998 to National Association of State Auditors, Controllers, and Treasurers (NASACT) members in all 50 states, Guam, and Washington, D.C.
In 1983, under the general auspices of the National Association of State Auditors, Comptrollers and Treasurers (NASACT), a federal-state task force was appointed to review the equity question of how federally funded programs were being managed in terms of the actual receipt and expenditure of program funds.