Lessors have reacted angrily to proposals for
new lease accounting rules issued by the International Accounting
Standards Board (IASB).
Tanguy van de Werve, director general of
Leaseeurope, called on the European Commission to carry out a
robust impact assessment before integrating the proposals into
law.
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“We are disappointed the IASB and US Financial
Accounting Standards Board (FASB) have not yet taken on board the
feedback that we and many others have provided,” de Werve said.
Leaseurope warned that the proposed accounting
methods could limit access to assets through leasing and rental,
and pointed to inconsistencies between the approaches for lessees
and lessors.
“We urge European policy makers and business
representatives to ensure that they are fully aware of the
implications of the changes to accounting for leases and rental and
encourage them to make their views on the proposals known,” de
Werve said.
Leaseurope and others in the leasing industry
believe that the proposals are being rushed through in order to
meet an IASB project deadline of June 2011.
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