Date: December 7, 2015

Issue: Accounting

To: Russ Golden, Chairman, Financial Accounting Standards Board

Filing Type: Regulatory

Description: The Chamber strongly supports the Exposure Draft on Statement of Financial Accounting Concepts No. 8—Conceptual Framework for Financial Reporting, Chapter 3: Qualitative Characteristics of Useful Financial Information Proposal and applauds the proactive leadership of FASB in defining materiality and resolving inconsistency between the well-established legal concept of materiality under the federal securities laws and the current usage of materiality as issued by FASB and the International Accounting Standards Board (“IASB”).

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