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AcSB Response – Annual Improvements to IFRS® Standards 2018-2020 Exposure Draft

September 9, 2019 International Activity

The International Accounting Standards Board’s (IASB) Exposure Draft, “Annual Improvements to IFRS® Standards 2018-2020” was issued in May 2019. This Exposure Draft proposed amendments to IFRS Standards as part of the IASB’s Annual Improvements process.

The AcSB’s due process includes ensuring that Canadian entities’ financial reporting needs are considered by the IASB. On August 19, 2019, we issued our response letter to the IASB’s Exposure Draft. 

We continue to strongly support the IASB in its efforts to identify and address standards implementation issues.

Overall, the letter agrees with most of the proposals but recommends that the IASB provide additional guidance to IFRS 16 Leases, to clarify when the reimbursement of leasehold improvements will be identified as a lease incentive.

Read our letter to understand the matters we raised to the IASB for further consideration.

Stay informed

Stay up-to-date on this project via the online project pages:


Jayshal Daya, CPA, CA
Principal, Accounting Standards Board
Phone no.: +1 (416) 204-3501
Email: [email protected]