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U.S. comment letter on improvements to materiality guidance

Published on: Dec 08, 2015

Deloitte & Touche LLP comments on the FASB's proposed ASU Assessing Whether Disclosures Are Material, and Proposed Amendments to Chapter 3, “Qualitative Characteristics of Useful Financial Information,” of FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting.

An excerpt from the comment letter is shown below:

We support the Board’s effort to improve the effectiveness of disclosures in the notes to financial statements and encourage the FASB to continue its work in this regard. Further, we believe that providing clarity regarding disclosures to be made in the notes to the financial statements facilitates good financial reporting by focusing on those matters that are most meaningful to users of the financial statements.

Full text of the comment letter is available below.


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