ESMA recommends supervisory coordination on accounting for COVID-19-related rent concessions
Tuesday 21 July 2020 08:53
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statement recommending coordination of supervisory action with regards to issuers’ accounting for COVID-19-related rent concessions.
ESMA acknowledges that, due to the COVID-19 pandemic, issuers encounter difficulties in accounting for the large volumes of lease modifications which have been granted in many jurisdictions. In order to address such such difficulties, the International Accounting Standards Board (IASB) issued in...