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IFRS® Accounting Standards

AcSB Exposure Draft – COVID-19-Related Rent Concessions beyond June 30, 2021 (Proposed amendment to IFRS 16)

Summary

The Accounting Standards Board (AcSB) proposes, subject to comments received following exposure, to incorporate an amendment to IFRS 16 Leases into Part I of the CPA Canada Handbook – Accounting.

Staff Contact(s)

Katharine Christopoulos, CPA, CA Director, Accounting Standards Board

Phone number  +1 416 204 3270
Email address  [email protected]

Thank you for your interest in the AcSB Exposure Draft – COVID-19-Related Rent Concessions beyond June 30, 2021 (Proposed amendment to IFRS 16).

Read the Exposure Draft and stay up to date with this project.

AcSB Exposure Draft – COVID-19-Related Rent Concessions beyond June 30, 2021 (Proposed amendment to IFRS 16)

Support Materials

IFRS 16 and COVID-19

Background

The International Accounting Standards Board (IASB) recently issued the Exposure Draft, “Covid-19-Related Rent Concessions beyond June 30, 2021 (Proposed Amendment to IFRS 16)”

The proposal in its Exposure Draft amends IFRS 16 to extend the availability of the exemption for COVID-19-related rent concessions by one year to June 30, 2022.

The IASB’s Exposure Draft includes a Basis for Conclusions that is not part of the AcSB’s Exposure Draft. This material may provide useful information to stakeholders.