UKEB adopts Lease Liability in a Sale and Leaseback — Amendments to IFRS 16
16 May, 2023
The UK Endorsement Board (UKEB) has adopted 'Lease Liability in a Sale and Leaseback — Amendments to IFRS 16' which was issued by the International Accounting Standards Board (IASB) in September 2022.
The Amendments clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. The Amendments have an effective date of 1 January 2024, with earlier application permitted.
The Endorsement Criteria Assessment and Adoption Statement are available on the UKEB website.
The UKEB has also updated its adoption statement report which is available on its website here.
