BDO submits comments letter to the IASB on ED Annual Improvements – Volume 11
BDO submits comments letter to the IASB on ED Annual Improvements – Volume 11
BDO has submitted a comment letter in response to the Exposure Draft Annual Improvements – Volume 11 issued by the IASB.
BDO supports the efforts of the IASB to improve the clarity of IFRS Accounting Standards.
With respect to the proposed amendments to IFRS 9 Financial Instruments concerning its interaction with IFRS 16 Leases, BDO recommends amending the requirements of IFRS 16 to refer to IFRS 9.3.3.1 and IFRS 9.3.3.3 stating that those requirements in IFRS 9 are to be applied rather than the lease modification requirements in IFRS 16 when a lease modification results solely in a reduction in the consideration payable under a lease contract.
The comment letter may be accessed here.
BDO supports the efforts of the IASB to improve the clarity of IFRS Accounting Standards.
With respect to the proposed amendments to IFRS 9 Financial Instruments concerning its interaction with IFRS 16 Leases, BDO recommends amending the requirements of IFRS 16 to refer to IFRS 9.3.3.1 and IFRS 9.3.3.3 stating that those requirements in IFRS 9 are to be applied rather than the lease modification requirements in IFRS 16 when a lease modification results solely in a reduction in the consideration payable under a lease contract.
The comment letter may be accessed here.