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Deloitte comments on FASB's proposed technical corrections and improvements to leases

Published on: Nov 14, 2017

Deloitte & Touche LLP comments on the FASB's Proposed ASU "Technical Corrections and Improvements to Recently Issued Standards — Accounting Standards Update No. 2016-02, Leases (Topic 842)," which was issued in September 2017.

An excerpt from the comment letter is shown below:

We support the Board’s efforts to clarify and improve the guidance in the new leases standard (ASC 842) to reduce potential diversity in practice and the initial and ongoing costs of applying this guidance. The proposed amendments will help ensure that entities implement the new requirements consistently and efficiently, as the Board intended.

For more information, see the full text of the comment letter which is available below.

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