FASB Extends Comment Letter Deadlines on Three Proposals
Today, the FASB decided to extend the comment letter deadlines for its proposals on consolidation (principal versus agent analysis), investment companies, and investment property entities to February 15, 2012. The decision was based on comment letters received from 16 constituents that indicated they needed more time to analyze the effects of the exposure drafts and understand the cross-cutting issues between the three proposals.
The original deadline for both the investment company and investment property comment letters was January 5, 2012. The original deadline for comments on the consolidation proposal was January 17, 2012.
The IASB has not discussed whether it will also extend its January 5, 2012, deadline for comments on its investment entity exposure draft.
