The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have published for public comment a revised Exposure Draft outlining proposed changes to the accounting for leases. The proposal aims to improve the quality and comparability of financial reporting by providing greater transparency about leverage, the assets an organization uses in its operations and the risks to which it is exposed from entering into leasing transactions. Hans Hoogervorst, Chairman of the IASB commented: “The development of an improved standard for leasing is vital. At present, investors must take an educated guess to determine the hidden leverage

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