IASB Exposure Draft on COVID related Rent Concessions

The International Accounting Standards Board (Board) is seeking feedback on the Exposure Draft Covid-19-Related Rent Concessions. The Exposure Draft sets out a proposal to permit lessees, as a practical expedient, not to assess whether particular covid-19-related rent concessions are a lease modification and, instead, account for those rent concessions as if they were not lease modifications.

The deadline for submitting comments on the Exposure Draft is 8 May 2020. The Board will consider feedback on the Exposure Draft in developing its final requirements. The Board plans to issue final amendments by the end of May 2020.