FEI, Others Offer Condolences On Sudden Passing Of IFRS Foundation Chair, Tommaso Padoa-Schioppa

Tommaso Padoa-Schioppa, Chairman of the IFRS Foundation Board of Trustees, passed away suddenly on Saturday, December 18.

As reported in the New York Times in an article by Eric Sylvers yesterday:

Padoa-Schioppa, an economist and former Italian finance minister who was one of the driving forces behind the creation of the European Union’s single currency died Saturday in Rome. He was 70. Franco Bruni, a friend and professor of international monetary economics at Bocconi University here, said Mr. Padoa-Schioppa died from a heart attack suffered during a dinner he had organized for 100 friends

The IFRS Foundation Trustees issued this statement on December 19 regarding Padoa-Schioppa's sudden passing, including remarks of IFRS Foundation vice-chairmen Tsuguoki (Aki) Fujinuma and Robert Glauber, IASB Chairman Sir David Tweedie, and IFRS Foundation COO Tom Seidenstein. Among others offering their condolences were the Monitoring Board of the IFRS Foundation, the Financial Accounting Foundation (which oversees the FASB), and Financial Executives International (FEI).

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FASB, IASB Receive Over 200 Comment Letters on Leasing Proposals

December 15 marked the comment letter deadline on FASB's Proposed Accounting Standards Update - Leases (Topic 840) and IASB's Exposure Draft: Leases.

Included among the over 200 comment letters received by FASB and the IASB on their proposed leasing standard(s) is a joint letter sent by FEI and five other professional associations on the IASB proposal. The letter, signed by President and CEO Marie Hollein, was addressed to Sir David Tweedie, chairman of the IASB, with a copy to Leslie Seidman, Acting Chairman of the FASB. In addition to FEI, the other organizations signing onto the letter were: the Equipment Leasing & Finance Association, the Finance & Leasing Association, the Japan Leasing Association and the U.S. Chamber of Commerce. Read more in the joint comment letter.

Separately, two FEI committees sent their own comment letters to FASB on its leasing proposal: FEI's Committee on Corporate Reporting, (FEI CCR letter) and FEI's Committee on Private Company Standards (FEI CPC-S letter).

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