Potential impact on lease accounting
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.