Can anyone point me to the confirmation that IFRS 16 implementation has been officially delayed for 12 months please. It all got mixed up with the proposal to streamline the closedown - which was not agreed by regulators/audit. Many thanks
I'd like to introduce myself as the editor of the TISonline Financial Management and Corporate Governance board. I put your query forward to the board and received the following response:
I don’t think it’s 100% confirmed yet, but I’d be very surprised if it isn’t. The last I saw on the matter was on the LASAAC main page - https://www.cipfa.org/policy-and-guidance/technical-panels-and-boards/cipfa-lasaac-local-authority-code-board - if you scroll to about the middle of the page there’s a heading “Deferral of IFRS 16 Leases”.
FRAB have already agreed it for central government, so it’s a safe bet they will approve it (if they haven’t already done so – last minutes on their website are from before Christmas). NHS websites confirm that - https://improvement.nhs.uk/resources/ifrs-16/.
I hope that you find this response useful.