PwC comments on the FASB’s proposal related to government assistance disclosures
Comment letter , PwC US Feb 10, 2016
PwC expresses concerns about the cost/benefit of certain provisions of the FASB’s proposed government assistance disclosures.
Overview
We submitted comments on the FASB’s proposed Accounting Standards Update, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. We do not support the proposed standard as currently drafted primarily because the scope of the proposed standard (1) is too broad, (2) depends on a potentially challenging assessment of whether a government has exercised discretion, and (3) could include arrangements subject to other recognition, measurement, and disclosure guidance. We are concerned this will create significant incremental costs for preparers and challenges for auditors that are not justified by the perceived incremental benefits to users.
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