MSRB's Report Confirms Slowing Audit Releases.

According to a report by the Municipal Securities Rulemaking Board (MSRB), the average time it takes for municipal issuers to submit their audited financials has been increasing since 2018 and reached a record high of 209 days in 2023. However, analysts are not overly concerned about this slight increase, as it has had no market impact so far. The report also highlights a decrease in the average number of days between document receipt date and the end of the fiscal year, suggesting a potential shortage of government finance officers as a reason for the delay in submitting audited financial documents. [Extracted from the article]

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