IASB March 2006

Preliminary to consideration by the SAC, the Board discussed a draft proposal to add a leasing project to its agenda. The project would build on the work carried out in the joint research project with the UK ASB, and would initially result in a discussion paper.

The Board was not asked to make a decision at this stage, but gave initial comments on whether the project would meet the Board’s agenda criteria. In addition, the draft project plan was discussed, and the Board expressed the view that a joint project with the FASB would be preferable. The need for consultation with users and others at an early stage in the project, possibly through an advisory group or focus groups, was emphasised.