KPMG Comments on FASB Proposal to Provide a Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets
Jan 12, 2015
From the Financial Reporting Network
KPMG LLP recently commented on the proposed FASB ASU, Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets, which would permit employers with fiscal year-ends that do not fall on a month-end to measure defined benefit obligations and the fair value of plan assets as of the month-end that is closest to the entity’s fiscal year-end. KPMG supports the proposed ASU as it would not significantly reduce the relevance of the information about the fair value of defined benefit plan assets and obligations, and would require disclosure of the alternative measurement date. KPMG also provided suggestions for enhancing the proposal.