The Governmental Accounting Standards Board (GASB) has established accountability as the cornerstone of financial reporting for governments. Accountability, as defined by GASB, includes budgetary and fiscal compliance. In this assignment, you will explore a local government's Comprehensive Annual Financial Report (CAFR) for the elements of the CAFR and how those elements are incorporated by a local government.Your professor will assign a local government CAFR that is similar to the CAFR presented in your textbook.
Write a 3–5 page paper in which you do the following:
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