IFRS 16 and Covid 19 – International Accounting Standards Board
At its supplementary meeting on March 10, 2021, the IASB met to consider feedback on the February 2021 Exposure and to redeliberate the project proposal in the light of that feedback. The Board tentatively decided to finalize the proposal in the Exposure Draft with an additional explanatory transition paragraph. The Board decided to begin the balloting process for the amendment to IFRS 16 without re-exposing it. Twelve Board members confirmed they were satisfied the Board has complied with the applicable due-process requirements to begin the process for balloting the amendment to IFRS 16. One Board member was absent. Two Board members indicated that they intend to dissent from the amendment to IFRS 16. The Board plans to issue the amendment to IFRS 16 on March 31, 2021.
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