Work in progress (Agenda Paper 7)

The following new matters have not yet been presented to the Committee:

Principal versus agent — IT resellers (IFRS 15): Whether an IT reseller acts as a principal or agent for the sale of software licences to customers.

Deficits in low/new energy vehicle credits (IAS 37): Whether a deficit in low and new energy credits gives rise to a liability for the producer/importer of passenger vehicles.

Rent Concessions — lessors and lessees (IFRS 16 and IFRS 9): (a) How a lessor and lessee account for voluntary forgiveness of lease payments by the lessor; and (b) how a lessor estimates an impairment allowance for a lease receivable when it expects to forgive future lease payments.

There was no discussion on these topics.