NEWS RELEASE 11/02/12

FASB Extends Disclosure Framework Comment Period to November 30

Norwalk, CT, November 2, 2012—The Financial Accounting Standards Board (FASB) today announced that it would extend the comment period for its Invitation to Comment, Disclosure Framework until November 30, 2012. That paper asks for stakeholder input on ways to improve effectiveness of disclosures in notes to financial statements of public, private, and not-for-profit organizations.

"We realize that a substantial number of our stakeholders were affected by Hurricane Sandy and may have difficulty meeting the original deadline," said FASB Chairman Leslie F. Seidman. "These stakeholders are encouraged to submit their written comments as soon as possible, but no later than November 30, 2012."

Stakeholders can submit a letter detailing their comments via email to director@fasb.org, File Reference No. 2012-220. Those without email should send a letter to "Technical Director, File Reference No. 2012-220, FASB, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116."

The Invitation to Comment, and additional project information, is available at www.fasb.org.