The new Exposure Draft on Leases

Oct 25, 2019Latest News

The new Exposure Draft on Leases by the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) ( was issued in May and responses are invited by 13 September 2013. The approach this time seems to be accept that property leases are different from other leases and, therefore, how they are treated for accounting purposes needs to be slightly different. Key questions are: Will this change the way occupiers view leasehold property? As the quantum of commitment is now clear, surely occupiers will look to reduce the profile of their commitments. Will it increase the amount of surplus space declared by corporate occupiers in their accounts? As occupied and surplus property are both on the balance sheet, will coporates use this as an opportunity to ‘tidy up’ their accounting regarding property? When will the new requirements be implemented? The Draft talks of a long lead in. Does that mean January 2016 or 2017?

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