In an address entitled 'introductory comment to the European parliament' (made in Brussels, Belgium) on 11 January 2016, the Chairperson of the iasb, Hans Hoogervorst, made the following comments in relation to the new accounting 2016 on the iasb wesite at www.ifrs.org explain :

a) What is the reason why, under the former accouting standard, reporting entities off the balance sheet ( statement of financial position lease liabilities were up to 66 times greater than the debt reported on their Statement of Financial Position 7?

b) Why does the Chairperson of the IASB argue that under the former accouting standard for leases there was no level playing field between some airlines companies?

c) Why do you think the Chairperson of the IASB said that the new accouting standard for leases will not be popular with everyone? What would cause this unpopularity?