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Coronavirus (COVID-19)—ESMA letter to IASB welcomes Exposure Draft COVID-19-related rent concessions

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Published on: 11 May 2020

Published by LNB News

LNB News 11/05/2020

Document Information

Issue Date: 11 May 2020

Published Date: 11 May 2020

Jurisdiction(s): United Kingdom

Article summary

The European Securities and Markets Authority (ESMA) has written to the International Accounting Standards Board (IASB) thanking the IASB for the opportunity to respond to the IASB’s due process with regards to Exposure Draft ED/2020/2 COVID-19 related rent concessions. ESMA welcomes the initiative of the IASB to introduce a practical expedient that may provide relief for lessees in accounting for rent concessions granted by lessors in the very specific circumstances of the COVID-19 pandemic.

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