Supplementary IASB Update: Impact of covid-19 – April 17, 2020

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Location: London

On April 17, 2020, the International Accounting Standards Board (the Board) issued the Update summary of its meeting held on April 17, 2020 to discuss the impact of the covid-19 pandemic.

The topics for discussion were:

  • whether to extend time lines for consultation documents and final amendments as a result of the pandemic;
  • due process steps to delay the effective date of Classification of Liabilities as Current or Non-Current as a result of the pandemic; and
  • a possible amendment to IFRS 16, Leases in response to changes in lease payments that have occurred or are expected to occur as a result of the pandemic.

Review the IASB Update and podcast on the Board's Web site.

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