Potential impact on lease accounting

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Apr 22, 2020

On April 22, 2020, the Accounting Standards Board (AcSB) released a publication on how the COVID-19 pandemic is affecting the ability of organizations to collect and pay rent and other lease obligations.

This means companies should use professional judgement and consider the potential implications that COVID-19 could have relating to the accounting for leases under IFRS 16, "Leases".

Review the publication on the AcSB's website.

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