Two major standards setters have announced the 18 members of a new international working group established as part of a joint project to reconsider their standards on lease accounting.

The International Accounting Standards Board and the Financial Accounting Standards Board said that the selected individuals all have extensive experience in the leasing industry, or hold responsibility for the preparation, analysis and auditing of financial statements of entities with significant leasing transactions.

The U.S.-based members of the working group are:

  • Ann Bordelon, vice-president of real estate finance for Wal-mart Stores Inc.;
  • Bill Bosco, a consultant with Leasing 101;
  • David Trainer, president of New Constructs LLC;
  • George Yungmann, senior vice president of financial standards for the National Association of Real Estate Investment Trusts;
  • John Bober, managing director for GE Energy Financial Services;
  • Neri Bukspan, managing director for Standard & Poor’s Credit Market Services; and,
  • Rich Jones, a partner in Ernst & Young’s national office.

In July 2006 the boards agreed to add a leasing project to their technical agendas. The first due process document to be published will be a joint discussion paper that expresses the boards’ preliminary views and is expected for release in 2008.

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