Draft IASB Invitation to Comment Header

International Accounting Standards Board This observer note is provided as a convenience to observers at Leases Working Group meetings, to assist them in following the discussion. This observer note is based on the staff paper for the Leases Working Group Meeting. The staff paper does not represent any official position of the International Accounting Standards Board (IASB) or the Financial Accounting Standards Board (FASB). All paragraph references in the observer note are referred to paragraphs in the staff paper. INFORMATION FOR OBSERVERS Leases Working Group Meeting Tuesday 7 October 2008 Agenda Paper - Draft IASB Invitation to Comment – IASB discussion paper on Leases Leases discussion paper Attached is a staff draft of the Leases discussion paper. The purpose of this staff draft is to: (a) summarise the proposed approach to a new lease accounting standard (b) provide preliminary views on how various issues will be addressed in an exposure draft (c) discuss other issues that will need to be addressed prior to the publication of an exposure draft (d) seek the views of constituents on all of these areas. Please note that this is a staff draft and has not been approved for issue by either the IASB or FASB. Purpose of the working group meeting The purpose of this meeting is to help the staff ensure that the discussion paper is complete and understandable. ...