EFRAG publishes Final Comment Letter on IASB’s ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021
05 March 2021
On 11 February 2021, the IASB issued the Exposure Draft ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed Amendments to IFRS 16) (the ED).
EFRAG has published its Final Comment Letter on the ED.
In its Final Comment Letter, EFRAG has supported the proposal to extend the scope of the Amendment to IFRS 16 by increasing the eligibility period for application of the Amendments from 30 June 2021 to 30 June 2022.
EFRAG has supported a continued time restriction to ensure that the Amendments apply only to COVID-19 restrictions. EFRAG has also supported the proposed transition requirements, including application of modified retrospective approach and permissibility of early adoption.
The Final Comment Letter may be accessed here.