EFRAG requests comments on its Draft Endorsement Advice on Covid-19-Related Rent Concessions Beyond 30 June 2021
19 February 2021
On 11 February 2021, the IASB issued Exposure Draft ED/2021/2 Covid-19-Related Rent Concessions Beyond 30 June 2021 (Proposed Amendments to IFRS 16). The proposed amendments extend eligibility period of the practical expedient in accounting for rent concessions granted as a direct consequence of COVID-19 from 30 June 2021 to 30 June 2022.
EFRAG's overall preliminary assessment is that the proposed amendments satisfy the criteria for endorsement for use in the EU and therefore EFRAG recommends its endorsement.
EFRAG has issued a Draft Endorsement Advice relating to the proposed amendments and a separate invitation to comment on the Endorsement Advice. Comments are requested by 17 March 2021.
The Draft Endorsement Advice may be accessed here.
The invitation to comment may be accessed here.