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IFRS Taxonomy Update for Covid-19-Related Rent Concessions (Amendments to IFRS 16) [ED]

Comment period ends on June 29, 2020

Next steps:

The Feedback in respect of the Proposed Taxonomy Update will be reviewed in July 2020

Last up­dated:

June 2020

Overview

On May 28, 2020, the IFRS Foun­da­tion pub­lished for pub­lic com­ment the Pro­posed Tax­on­omy Update for Covid-19-Related Rent Concessions (Amendments to IFRS 16). This Pro­posed Tax­on­omy Up­date in­cor­po­rates the IFRS Tax­on­omy el­e­ments for these amendments to IFRS 16. 

When the International Accounting Standards Board (Board) issues new IFRS Standards or amendments to existing IFRS Standards, it also updates the IFRS Taxonomy to reflect new or amended presentation and disclosure requirements. These updates ensure that the IFRS Taxonomy accurately reflects IFRS Standards.

The IFRS Taxonomy team works with project teams to prepare proposed changes to the IFRS Taxonomy. The Board approves publication of proposed IFRS Taxonomy updates via ballot at the same time or shortly after it approves the new Standard or amendment.

Proposed changes to the IFRS Taxonomy are subject to public consultation. The Board reviews feedback before it issues the final IFRS Taxonomy update.

 

Other developments

June 2020

On June 26, 2020, the IASB staff updated the work plan to indicate that the Board expects to review the Feedback on the Proposed Taxonomy Update in July 2020.

May 2020

On May 28, 2020, the IFRS Foun­da­tion pub­lished for pub­lic com­ment the Pro­posed Tax­on­omy Update for Covid-19-Related Rent Concessions (Amendments to IFRS 16). Comments are requested by June 29, 2020.

 

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.