Lease Accounting Working Group Meeting January 2012

Sarah Woodman, Global events journalist
January 11, 2012 /

The IASB and the FASB have a joint working group for the Leases project to seek the views of both users and preparers of financial statements as the project progresses.

The next Leases Working Group meeting will take place on Tuesday 24th January 2012 between 14:00- 18:30 (UK time) at both the IFRS and FASB offices.

On 19 July 2006, the IASB and the US FASB added a joint project on leasing to their respective agendas.

Because the leasing project is a joint project between the IASB and FASB, the working group is an international group serving both Boards.

The composition of the working group reflects the diversity and breadth of interest in this area, and ensures that there is a satisfactory balance of perspectives.

The working group is comprised of individuals from a variety of backgrounds – preparers, auditors and users of financial statements, subject-matter experts, and others.

In July the IASB and the FASB established a joint working group for the project to seek the views of both users and preparers of financial statements as the project progresses. The first working group meeting was held in February 2007.

 

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