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Beyond the GAAP - September 2022
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Beyond the GAAP - September 2022
In September 2022, the IASB issued amendments to IFRS 16 – Leases to clarify the subsequent measurement of a lease liability arising from sale and leaseback transactions where the lease payments are variable and not dependent on an index or rate. As requested by stakeholders, the IASB has ultimately provided no clarification on how to measure the proportion of the seller-lessee's retained interest in the asset. This issue of Beyond the GAAP presents the details of this amendment, which has been expected for several months.
This month, the ISSB and EFRAG have taken stock of the extensive stakeholder feedback received on their respective draft standards on sustainability disclosures. Although the ISSB, unlike EFRAG, is not required to have finalised its deliberations by mid-November 2022, the ISSB is also under pressure to publish the initial basis of the ’global baseline’ called for by many stakeholders as rapidly as possible. EFRAG continues to press ahead with the timetable imposed by the draft CSRD, bearing in mind that immense work is involved in finalising the draft European Sustainability Reporting Standards (ESRSs) in order to meet the expectations of preparers and users, but also the requirements of the European Union, while being aligned, as far as possible, with the future ISSB standards.
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Inge van Sloun Director
Audit & accounting advisory
The International Financial Reporting Standards (IFRS) are constantly under development. Complying with the standards, following the latest developments and analysing their possible impact can be an enormous challenge. Are you looking for expertise to help you with this? If so, you have found the right people at Mazars.