Our Ref.: C/FRSCSent electronically through the IASB Website (www.ifrs.org)
24 February 2021Mr Hans HoogervorstInternational Accounting Standards BoardColumbus Building7 Westferry CircusCanary WharfLondon E14 4HDUnited KingdomDear Hans,IASB Exposure Draft ED/2021/2Covid-19-Related Rent Concessions beyond 30 June 2021– Proposed amendment to IFRS16The Hong Kong Institute of Certified Public Accountants (HKICPA) is the only bodyauthorised by law to set and promulgate standards relating to financial reporting, auditing,and ethics for professional accountants, in Hong Kong. We are grateful for the opportunityto provide you with our comments on this Exposure Draft (ED).The HKICPA appreciates the IASB's responsive action to address the practical challengeslessees continue to face during the Covid-19 pandemic, and supports the IASB’s proposedamendment to IFRS 16 Leases.Our responses to the questions raised in the ED are set out below:
Question 1 – Extended scope of the practical expedientThe HKICPA supports the proposed amendment to paragraph 46B(b) of IFRS 16 andagrees this will help provide practical relief to lessees during the height of the Covid-19pandemic, while enabling them to continue providing useful information about their leasesto users of financial statements.Question 2 – Effective date and transitionThe HKICPA supports the proposed effective date and transition requirements for thereasons stated in the basis for conclusions.Work undertaken by HKICPA in forming its views:
The HKICPA:
(a) issued an Invitation to Comment on the ED on 16 February 2021 to our stakeholders;
(b) sought input from its Leases Advisory Panel comprising technical and industry expertsand auditors from accounting firms; and(c) developed its views through its Financial Reporting Standards Committee, havingreflected on its stakeholders’ feedback. The Committee comprises academics, preparerrepresentatives from various industry sectors, investors, regulators, and technical andindustry experts from small, medium and large accounting firms.If you have any questions regarding the matters raised in this letter, please contact me(ceciliakwei@hkicpa.org.hk) or Joni Kan, Associate Director of the Standard SettingDepartment (jonikan@hkicpa.org.hk).Yours sincerely,Cecilia KweiDirector, Standard Setting Department
IASB Exposure Draft ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 – Proposed amendment to IFRS16
下载原件Our Ref.: C/FRSCSent electronically through the IASB Website (www.ifrs.org)
24 February 2021Mr Hans HoogervorstInternational Accounting Standards BoardColumbus Building7 Westferry CircusCanary WharfLondon E14 4HDUnited KingdomDear Hans,IASB Exposure Draft ED/2021/2Covid-19-Related Rent Concessions beyond 30 June 2021– Proposed amendment to IFRS16The Hong Kong Institute of Certified Public Accountants (HKICPA) is the only bodyauthorised by law to set and promulgate standards relating to financial reporting, auditing,and ethics for professional accountants, in Hong Kong. We are grateful for the opportunityto provide you with our comments on this Exposure Draft (ED).The HKICPA appreciates the IASB's responsive action to address the practical challengeslessees continue to face during the Covid-19 pandemic, and supports the IASB’s proposedamendment to IFRS 16 Leases.Our responses to the questions raised in the ED are set out below:
Question 1 – Extended scope of the practical expedientThe HKICPA supports the proposed amendment to paragraph 46B(b) of IFRS 16 andagrees this will help provide practical relief to lessees during the height of the Covid-19pandemic, while enabling them to continue providing useful information about their leasesto users of financial statements.Question 2 – Effective date and transitionThe HKICPA supports the proposed effective date and transition requirements for thereasons stated in the basis for conclusions.Work undertaken by HKICPA in forming its views:
The HKICPA:
(a) issued an Invitation to Comment on the ED on 16 February 2021 to our stakeholders;
(b) sought input from its Leases Advisory Panel comprising technical and industry expertsand auditors from accounting firms; and(c) developed its views through its Financial Reporting Standards Committee, havingreflected on its stakeholders’ feedback. The Committee comprises academics, preparerrepresentatives from various industry sectors, investors, regulators, and technical andindustry experts from small, medium and large accounting firms.If you have any questions regarding the matters raised in this letter, please contact me(ceciliakwei@hkicpa.org.hk) or Joni Kan, Associate Director of the Standard SettingDepartment (jonikan@hkicpa.org.hk).Yours sincerely,Cecilia KweiDirector, Standard Setting Department