This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRS 16 news

IFRS 16 Leases has been published and is effective for periods beginning on or after 1 January 2019.  The FRC expects companies to apply this new standard properly and provide sufficient specific disclosure of the impact including key judgements made and clear communication of the transition methods adopted. It has published a thematic review to help companies with disclosures in this area.    

This page provides all of our news items related to IFRS 16.

Related news

EFRAG moves quickly on endorsement advice on IFRS 16 amendment

03 Jun 2020

The European Financial Reporting Advisory Group (EFRAG) has issued final endorsement advice for 'Covid-19-Related Rent Concessions (Amendment to IFRS 16)' not even a week after the amendment was issued by the IASB.

ICAEW to host an IFRS update webinar

02 Jun 2020

The Institute of Chartered Accountants in England and Wales (ICAEW) will be hosting a webinar on latest developments in IFRS Standards.

IASB finalises amendment to IFRS 16 regarding COVID-19-related rent concessions

28 May 2020

The International Accounting Standards Board (IASB) has published 'Covid-19-Related Rent Concessions (Amendment to IFRS 16)' amending the standard to provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. Concurrently, the IASB also published a proposed Taxonomy Update to reflect this amendment.

We comment on the IASB's proposed amendments as a result of the second phase of its project on the IBOR reform

25 May 2020

We have commented on IASB exposure draft ED/2020/1 'Interest Rate Benchmark Reform — Phase 2 (Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)', which was published by the IASB on 9 April 2020.

IASB votes to finalise IFRS 16 amendment

15 May 2020

In a supplementary meeting today, the IASB considered the feedback it received on its 24 April exposure draft 'Covid-19-Related Rent Concessions (Proposed amendment to IFRS 16)' that contained a proposed amendment that would provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. The 14-day comment letter period closed on 8 May 2020 and the Board received 110 comment letters (including late submissions).

IASB concludes the 2018-2020 annual improvements cycle

14 May 2020

The IASB has issued 'Annual Improvements to IFRS Standards 2018–2020'. The pronouncement contains amendments to four International Financial Reporting Standards (IFRSs) as result of the IASB's annual improvements project.

We comment on two IFRS Interpretations Committee tentative agenda decisions

13 May 2020

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 12 and IFRS 16, as published in the March 2020 IFRIC Update.

IASB announces supplementary meeting

07 May 2020

On 15 May, the IASB will hold a supplementary meeting on COVID-19-related matters. The meeting will be held by conference call and is expected to last one hour (10:00-11:00 hrs BST).

EFRAG draft comment letter on rent concessions ED

01 May 2020

The European Financial Reporting Advisory Group (EFRAG) has published a draft comment letter on the IASB exposure draft ED/2020/2 'Covid-19-Related Rent Concessions (Proposed amendment to IFRS 16)'.

IASB publishes proposed amendment regarding COVID-19-related rent concessions

24 Apr 2020

The International Accounting Standards Board (IASB) has published an exposure draft 'Covid-19-Related Rent Concessions (Proposed amendment to IFRS 16)' that contains a proposed amendment that would provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. Comments are requested by 8 May 2020.

EFRAG draft comment letter on IBOR ED

23 Apr 2020

The European Financial Reporting Advisory Group (EFRAG) has published a draft comment letter on the IASB exposure draft ED/2020/1 'Interest Rate Benchmark Reform — Phase 2 (Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)'.

IASB holds meeting dedicated to COVID-19 issues

17 Apr 2020

In advance of its regular meeting next week, the IASB held a supplementary IASB meeting today to consider COVID-19-related matters: the Board's timelines in view of the COVID-19 pandemic and accounting for COVID-19-related rent concessions.

IASB holds meeting dedicated to COVID-19 issues

17 Apr 2020

In advance of its regular meeting next week, the IASB held a supplementary IASB meeting today to consider COVID-19-related matters: the Board's timelines in view of the COVID-19 pandemic and accounting for COVID-19-related rent concessions.

DPOC discusses shortened comment periods for exposure drafts the IASB might decide to publish

16 Apr 2020

The Due Process Oversight Committee (DPOC) of the IFRS Foundation held a conference call today to discuss shortened comment letter periods for two exposure drafts the IASB might decide tomorrow to publish in the context of the COVID-19 pandemic.

DPOC discusses shortened comment periods for exposure drafts the IASB might decide to publish

16 Apr 2020

The Due Process Oversight Committee (DPOC) of the IFRS Foundation held a conference call today to discuss shortened comment letter periods for two exposure drafts the IASB might decide tomorrow to publish in the context of the COVID-19 pandemic.

IASB publishes COVID-19 guidance on IFRS 16, will discuss COVID-19 implications in supplementary meeting

11 Apr 2020

The International Accounting Standards Board (IASB) has published a document responding to questions regarding the application of IFRS 16 'Leases' during the period of enhanced economic uncertainty arising from the COVID-19 pandemic. In a supplementary meeting, the IASB will discuss the matter further and will also consider effective dates, consultations periods and publication dates in general.

IASB publishes proposed amendments as a result of the second phase of its project on the IBOR reform

09 Apr 2020

The International Accounting Standards Board (IASB) has published an exposure draft 'Interest Rate Benchmark Reform — Phase 2 (Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)' that contains proposed amendments that would address issues that might affect financial reporting after the reform of an interest rate benchmark, including its replacement with alternative benchmark rates. Comments are requested by 25 May 2020.

ESMA publishes 24th enforcement decisions report

03 Apr 2020

The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IFRS 15 (three decisions), IFRS 7, IFRS 9/IAS 12, IFRS 10, IAS 34, and IFRS 15/IFRS 16.

FRC announces thematic reviews for 2020/2021

16 Dec 2019

The Financial Reporting Council (FRC) has announced the corporate reporting and audit quality thematic reviews that it will undertake in 2020/21.

We comment on five IFRS Interpretations Committee tentative agenda decisions

25 Nov 2019

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 21, IAS 29, IFRS 15, and IFRS 16, as published in the September 2019 IFRIC Update.

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.