February IASB supplementary

amend paragraph 46B(b) of IFRS 16 to permit a lessee to apply the practical expedient in paragraph 46A of IFRS 16 to rent concessions for which any reduction in lease payments affects only payments originally due on or before 30 June 2022, rather than only payments originally due on or before 30 June 2021. Eleven of 13 Board members agreed with this decision.

require a lessee applying the amendment to do so for annual reporting periods beginning on or after 1 April 2021. Twelve of 13 Board members agreed with this decision.

permit a lessee to apply the amendment early, including in financial statements not authorised for issue at the date the final amendment is issued. Twelve of 13 Board members agreed with this decision.

require a lessee applying the amendment to do so retrospectively, recognising the cumulative effect of initially applying the amendment as an adjustment to the opening balance of retained earnings (or other component of equity, as appropriate) at the beginning of the annual reporting period in which the lessee first applies the amendment. Eleven of 13 Board members agreed with this decision.

specify that, in the reporting period in which a lessee first applies the amendment, a lessee is not required to disclose the information required by paragraph 28(f) of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Eleven of 13 Board members agreed with this decision.

allow 14 days for comment on an exposure draft of proposed amendments to IFRS 16, as approved by the Trustees of the IFRS Foundation. Twelve of 13 Board members agreed with this decision. One Board member was absent.