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FASB issues proposed ASU to defer the effective date of certain disclosures for nonpublic employee benefit plans

  • FASB (US Financial Accounting Standards Board) Image

May 01, 2013

The FASB has issued a proposed Accounting Standards Update (ASU) that defers indefinitely the effective date for certain disclosures about investments held by a nonpublic employee benefit plan in the plan sponsor’s own equity securities.

The proposed ASU addresses the concerns that nonpublic entities for annual periods beginning after December 15, 2011, would potentially provide proprietary information about nonpublic entities through the dissemination of their employee benefit plans’ financial statements on the regulator’s Web site.

Comments were due by May 31, 2013. The FASB expects to issue a final ASU in June 2013.

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