What is the post-implementation review (PIR) process?

The PIR process is an evaluation of whether standards are achieving their objectives, including whether they provide financial statement users with relevant information in ways that justify the cost of providing it. It is an important quality control mechanism built into the GASB’s standard-setting process that begins after the issuance of certain Statements. During the PIR process, the Board solicits and considers diverse stakeholder input and other research to evaluate the standards that are issued and whether there are areas of improvements the Board should address.