The IASB and the FASB are conducting various outreach activities during the comment period on leases. These outreach activities supplement the boards’ comment letter process. Comments received on the proposals both within comment letters and at outreach meetings will be considered by the boards in redeliberations that will commence in the last quarter of 2013.
The outreach activities have a primary focus of obtaining information about the costs of the proposals and the benefits of the information provided by the proposals. This targeted focus reflects that this is the second Exposure Draft for this project. The following outlines the outreach activities in more detail:
- Regarding the usefulness of the information provided about the proposals, the boards have already held over 20 meetings involving more than 100 investors, lenders and analysts from Europe, Australia, New Zealand, Canada and the United States. Those meetings with investors and analysts will continue throughout the remainder of the comment period, with further meetings already arranged with investors, lenders and analysts in Hong Kong, Tokyo, the United States and Europe.
- Regarding costs, the boards will conduct fieldwork during the next two months, meeting individually with lessees and lessors from around the world to discuss in detail the steps that those preparers would take to implement the proposals. The objective is to obtain a more detailed understanding of the anticipated costs of implementation and any incremental ongoing costs.
- In addition, board members and staff have participated, and will continue to participate, in various meetings organised by national standard setters, leasing organisations and others, and at conferences around the world.
The boards will also hold public round table meetings in September and October 2013 in the following locations:
- São Paulo, Brazil
- London, United Kingdom
- Norwalk, United States
- Los Angeles, United States
Register to participate in or observe the round table meetings.