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Major publications on IFRS 16

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 major publications related to IFRS 16.

Related Publications

Need to know — IASB finalises amendment to IFRS 16 'Leases' regarding COVID-19-related rent concessions

04 Jun 2020

This Need to know addresses the amendment to IFRS 16 'Leases' published by the IASB in May 2020, titled 'Covid-19-Related Rent Concessions'. This is an update of our earlier Need to know on the Exposure Draft.

Need to know — IASB publishes package of narrow-scope amendments to IFRS Standards

21 May 2020

This Need to know addresses the recent package of narrow-scope amendments to IFRS Standards that was published by the IASB on 14 May 2020.

Need to know — IASB proposes to amend IFRS 16 'Leases' regarding COVID-19-related rent concessions

24 Apr 2020

This publication addresses the proposed amendments to IFRS 16 'Leases' set out in Exposure Draft ED/2020/2 'COVID-19-Related Rent Concessions (Proposed amendments to IFRS 16)' published by the IASB in April 2020.

Need to know — IASB proposes Interest Rate Benchmark Reform — Phase 2: Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16

16 Apr 2020

This Need to know outlines the proposed amendments set out in 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' published by the International Accounting Standards Board (IASB) on 9 April 2020.

Governance in brief — FRC issues advice on annual reports for 2019/20 reporting season

14 Nov 2019

The FRC has issued its Annual Review of Corporate Reporting and annual open letter to finance directors and audit committee chairs covering its perspectives on key developments and areas of focus for 2019/20 annual reports. The report sets out the FRC’s “expectations for corporate reporting to improve trust in business”, emphasising the annual report is a vehicle of trust and stewardship.

Short-term leases

19 Sep 2019

This publication provides a step-by-step explanation of the accounting implications of the various subsequent changes that might impact a short-term lease’s classification using practical and easy to follow examples.

Need to know — IASB publishes proposals for amendments under its Annual Improvement Process

28 May 2019

The International Accounting Standards Board (IASB) has published an exposure draft ED/2019/2 'Annual Improvements to IFRS Standards 2018–2020'. It contains proposed amendments to four International Financial Reporting Standards (IFRSs) as result of the IASB's annual improvements project. Comments are requested by 20 August 2019.

Lease modifications – extending the lease term

21 May 2019

This publication from Deloitte Hong Kong focuses on the extension of a lease. Specifically, it addresses the following issues: 1) What constitutes a lease modification? 2) When should a lease modification be accounted for? 3) What is the impact of a lease modification on the lease term? 4) How do the modification requirements interact with transition reliefs?

Governance in brief — FRC issues advice on annual reports for the 2018/19 reporting season

06 Dec 2018

The Financial Reporting Council (FRC) has issued its Annual Review of Corporate Reporting and annual letter to finance directors and audit committee chairs covering its perspective on key developments for 2018/19 annual reports.

Need to know — Disclosing the new adoption of accounting standards in interim financial statements

21 Jun 2018

Both IFRS 9 'Financial Instruments' and IFRS 15 'Revenue from Contracts with Customers' are mandatorily effective for annual periods beginning on or after 1 January 2018. For many entities, the first financial statements reflecting adoption of these significant standards will be an interim report for the six months to June 2018. IFRS 16 'Leases' is also available for early adoption in 2018 financial statements.

Point of view — Financial Services — implications of the new leasing standard

07 Feb 2017

With a year having passed since IFRS 16 'Leases' was issued many companies are getting to grips with what it will mean for them. This publication highlights the issues of interest to those in the financial services sector, whether they be lessees, lessors or lenders to lessees.

Need to know — FRC consults on changes to FRS 102 to reflect recent changes in IFRSs

10 Oct 2016

The FRC has published a Consultation Document Triennial review of UK and Ireland accounting standards – Approach to changes in IFRS. This forms part of the first triennial review of FRS 102 and sets the direction of travel for UK GAAP. Areas under discussion within this Consultation include revenue recognition, leases and impairment model for financial assets. This Need to know discusses this Consultation.

Point of view — Power and Utilities — implications of the new leasing standard

15 Mar 2016

This publication highlights issues from the new leasing standard that will be of interest to those in the Power and Utilities sector.

Point of view — Telecommunications implications of the new leasing standard

15 Jan 2016

This publication highlights issues from the new leasing standard that will be of interest to those in the telecommunications sector

Point of view — Property occupiers implications of the new leasing standard

14 Jan 2016

This publication highlights issues from the new leasing standard that will be of interest to property occupiers.

Point of view — Aviation implications of the new leasing standard

14 Jan 2016

This publication highlights issues from the new leasing standard that will be of interest to those in the aviation sector.

Need to know — IASB issues IFRS 16 – Leases

14 Jan 2016

This newsletter provides a comprehensive overview of the IASB's new standard, IFRS 16 'Leases'.

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