This site uses web cookies · Read our Policy here
International: (+34) 952 198 657
Open navigation menu

RICS Oceania Highlights Impact Of New IASB Lease Rules

First name: 


Last name: 


Tel. Number: 

IPIN Disclaimer.

  We never share your data with any third parties.

*Note: IPIN investment opportunities are available subject
to location and certain knowledge / experience criteria.

News by Category


United States  Australia  RICS  Royal Institution of Chartered Surveyors  International Accounting Standards Board  RICS Asia Pacific  proposed lease accounting rules  Australian Accounting Standards Board  Financial Accounting Standards Board  Kaye Herald  IASB 

RICS Oceania Highlights Impact Of New IASB Lease Rules

By - Tuesday 23 August 2011

The new rules on leases being proposed by the International Accounting Standards Board (IASB) will have a noticeable effect on the way in which business is conducted, the Royal Institution of Chartered Surveyors (RICS) in Oceania has noted. According to the organisation, the Australian Accounting Standards Board is expected to introduce the new regulations if they are approved by the IASB.

Kaye Herald, managing director of RICS Asia Pacific, commented: "The new proposed lease accounting rules will significantly shift how the corporate sector operates in Australia and will directly affect the balance sheets of many of Australia's occupiers and landlords." The regulations will require companies that report under the International Financial Reporting Standards to account for leases, while lease obligations will have to be included on the balance sheets of many major corporations.

The IASB is working in conjunction with the Financial Accounting Standards Board in the US to develop the rules. The organisations intend to put forward "a new single approach" to lease accounting. The initial discussion paper was published in 2009, with a second draft made available in 2010. In July this year, the bodies announced that the industry will have an opportunity to comment on its revised proposals.

Subscribe to IPIN Live by Email - Get our News & Blog updates delivered directly to your inbox - click here



*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.

«« Back to IPIN Live

Follow IPIN Global

Latest Content

Recent Comments

Powered by Disqus