Global Standards for the world economy

Monday 25 January 2021

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The objective of the project was to develop a new Leases Standard that sets out the principles that both parties to a contract, ie the customer (‘lessee’) and the supplier (‘lessor’), apply to provide relevant information about leases in a manner that faithfully represents those transactions. To meet this objective, a lessee is required to recognise assets and liabilities arising from a lease.

Project stages

Research documents

Board deliberations


Issued documents

Stage 1: completed July 2006
Stage 2: completed March 2009