Partner in PwC's Accounting Consulting Services in
the UK, Peter Hogarth, provides an update on the leasing project
and tells of his hopes for things to come.
Once upon a time, a namesake of mine annoyed his village
neighbours by repeatedly telling them that the wolf was here. It
never was, and so nobody believed him. We all know what happened to
him, so it is with some nervousness that I tell you that the
revised leases exposure draft should be here soon.
The boards proudly announced in July that they had substantially
completed their discussions and that a revised leases exposure
draft would be published by the end of the year (It's the
wolf!). It didn't take long for that deadline to slip to the
first quarter of next year (I think I can see a wolf-like dot on
the horizon), but nevertheless the boards do seem to be approaching
the end of this phase of the project.
