Utah Code § 10-6-107: Uniform accounting system.

(1) The accounting records of cities shall be established and maintained, and financial statements prepared from those records in conformance with generally accepted accounting principles promulgated from time to time by authoritative bodies in the United States.

(2) The state auditor shall prescribe in the Uniform Accounting Manual for Utah Cities a uniform system of accounting that conforms to generally accepted accounting principles.

(3) The state auditor shall maintain the manual so that it reflects current generally accepted accounting principles.