Date recorded:

The IASB held a supplementary meeting on Wednesday 10 March. The sole topic was its proposal to extend the period to which the practical expedient for COVID-19 related rent concessions can be applied by a year. The Board decided to finalise the proposal that it cover payments originally due on or before 30 June 2022. Two Board members plan to dissent.

Next steps

The staff will begin the balloting process and expect to publish the amendment to IFRS 16 on 31 March 2021.

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