International Accounting Standards Board: Developments in IFRS

IFRS Interpretations Committee Chair and International Accounting Standards Board Member Bruce Mackenzie and IASB Technical Staff Riana Wiesner and Jawaid Dossani discuss the latest activities to support the consistent application of IFRS Accounting Standards in the last quarter of 2022. The topics discussed include a question to the Committee relating to IFRS 16 Leases about whether a contract that includes a particular substitution right is considered a lease. The Committee has published a Tentative Agenda Decision on this topic; the comment period closes 6 February 2023.