SAS 69 Section 411 The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles

The hierarchies of generally accepted accounting principles (GAAP hierarchies)
of nongovernmental, state and local, and federal reporting
entities have resided in SAS No. 69 in the auditing literature. The
Financial Accounting Standards Board (FASB), the Governmental
Accounting Standards Board (GASB), and the Federal Accounting
Standards Advisory Board (FASAB) have issued the following pronouncements
that incorporate their respective GAAP hierarchy into
their respective authoritative literature: