Comment letter , PwC US Oct 13, 2015
PwC submitted comments on the GASB's exposure draft, Blending Requirements for Certain Component Units. We support the board’s decision to establish a fourth blending requirement to address situations where the government is the sole corporate member of an NPO used in carrying out the government’s activities. In this type of NPO, the sole corporate member wields absolute power over the entity’s activities. We agree that in these circumstances, a blended presentation provides the best representation of the reporting entity. We encourage the board to further clarify the criteria and requirements for blending in additional circumstances, such as those related to non-member NPOs, majority-owned component units, limited liability companies, and limited partnerships.
© 2016 - Mon Mar 01 06:03:17 UTC 2021 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.