1min chapter

IFRS Talks - PwC's Global IFRS podcast cover image

Episode142: March 2023 IFRIC Update

IFRS Talks - PwC's Global IFRS podcast

CHAPTER

The Committee's Views on Amendments to the Definition of a Lease Modification

Carson: Almost all committee members were not supportive of the staff's proposals around amending the definition of a lease modification. Carson: Many due to concerns that even with those amendments it would still be unclear for some rent concessions whether they would be in the scope of IFRS 16 or IFRS 9. There are also many committee members tell that the amendments as proposed by the staff would likely go beyond an annual improvement and so if the board intends to do something about this issue it should be dealt with either as part of the IFRS 16 PIR, so the post-implementation review or as a separate standard setting project rather than as an annual improvement.

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