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EFRAG moves quickly on endorsement advice on IFRS 16 amendment

EFRAG moves quickly on endorsement advice on IFRS 16 amendment

03 June 2020
The European Financial Reporting Advisory Group (EFRAG) has issued final endorsement advice for 'Covid-19-Related Rent Concessions (Amendment to IFRS 16)' not even a week after the amendment was issued by the IASB.
EFRAG assesses that the amendment meets the technical endorsement criteria of the IAS Regulation and is conducive to the European public good. It therefore recommends its endorsement.
The European Commission's Accounting Regulatory Committee's (ARC) vote, the next step in the endorsement process, is expected to take place later in June, however, final endorsement is currently expected not before "Q3/Q4 2020".
Please click to access the final endorsement advice letter and a corresponding press release on the EFRAG website.