Potential impact on lease accounting
Jul 28, 2020
On July 28, 2020, the Accounting Standards Board (AcSB) released an updated version of their 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.