AcSB Response – IASB Exposure Draft, Covid-19-Related Rent Concessions (Proposed Amendment to IFRS 16)

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May 08, 2020

On May 8, 2020, the Accounting Standards Board (AcSB) submitted a comment letter responding to this Exposure Draft issued in April 2020.

The letter agrees with the intent of the proposals, but recommends that the relief provided relate to all rent concessions that occur as a direct consequence of COVID-19, rather than limiting the proposal to lease payments due in 2020. The AcSB also recommends that the IASB provide the same relief from applying the lease modification guidance to lessors.

Review the letter on the IASB's website.

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