Date recorded:

EFRAG noted that there were some difficulties in the ED proposals, especially for lessors, including:

  • the lease boundary
  • inconsistencies with the revenue recognition proposals
  • the derecognition/ sale model.

EFRAG recommended that the IASB undertake field testing. The IASB noted that they were undertaking a comprehensive programme of outreach during the exposure period and were also preparing a questionnaire on the proposals that would be released.

There will be a public roundtable in London during the week of 13 December (the Board meeting week). Constituents wishing to participate will be asked to submit their comment letter sometime in advance (date not given, but assume around 30 November). Other roundtables will be held in North America (Norwalk and San Francisco) and Asia/ Pacific (possibly Tokyo) later.

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