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Our Financial Reporting Expert Group advised on our response to the IFRS Foundation's revised Exposure Draft outlining proposed changes to the accounting for leases. We noted that we we have significant concerns about the proposed changes to lease accounting. In particular, we are concerned that the Exposure Draft does not represent an improvement compared to current lease accounting as set out in IAS 17, and as a consequence the expense of change is not justified by the benefits.

Click here to download the response (pdf)

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