Exposure Draft and comment letters: Covid-19-Related Rent Concessions

 

The International Accounting Standards Board (Board) has proposed an amendment to IFRS 16 to provide lessees with practical relief during the covid-19 pandemic while enabling them to continue providing useful information about their leases to users of financial statements.

The proposed amendment aims to address issues affecting the application of IFRS 16 requirements to large volumes of rent concessions granted as a direct consequence of the covid-19 pandemic during 2020. The proposed amendment:

  • permits lessees, as a practical expedient, not to assess whether particular covid-19-related rent concessions are lease modifications. Instead, lessees that apply the practical expedient would account for those rent concessions as if they were not lease modifications.
  • requires lessees that apply the practical expedient to disclose that fact.

The Exposure Draft is available below. The comment letter period was open until 8 May 2020.

 


 

Comment letters are public and all comment letters received on the due process document can be accessed below.

If you have trouble finding a specific comment letter, please contact us.

Access individual comment letters in the table below or download all letters as zip file.

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