The Governmental Accounting Standards Board has extended the deadline until October 14 for constituents to comment on its recent proposals for improving the disclosures for pension accounting and financial reporting.
The original deadline was September 30. The board has also changed the date for the public hearing it planned to hold in New York City to October 4 from October 3. The other dates originally scheduled for public hearings and user forums are unchanged.
“The board believes that it must balance the need to address significant financial reporting issues on a timely basis with the multitude of competing priorities of the financial statement preparer community, including the successful implementation of any final pension standards,” said GASB chairman Robert Attmore in a statement. “Based on the due process response periods provided for other major projects in the past, the Board concluded that this two-week extension would better achieve that balance.”
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