IASB special meeting – Covid-19 relief for lease accounting

The Board had a special meeting in mid-May to discuss the feedback received on its proposals for changes in accounting requirements to grant relief to lessees affected by the Covid-19 pandemic. Since there had been significant support for the proposals, the Board decided to finalise them with few changes. Respondents had, however, also requested relief for lessors due to considerable challenges that they are facing as a result of accounting for rent concessions. While members were sympathetic to these problems, they did not believe that they could develop an adequately focused and ring-fenced solution to them without creating a risk that unintended consequences could arise.