Local authority leasing briefings

To support the implementation of the new adoption of IFRS 16 Leases in the Local Authority Accounting Code, CIPFA is producing a series of briefings.

The CIPFA/LASAAC Local Authority Accounting Code Board has issued its consultation on the adoption of IFRS16.

Local Authority Leasing Briefing One (PDF, 227KB)

This briefing focuses on recognition and measurement and the adaptations to the code for the adoption of IFRS 16. This consultation has now closed and CIPFA/LASAAC will update stakeholders on developments by means of these local authority leases briefings.

Local Authority Leasing Briefing Two (PDF, 192KB)

This briefing focuses on identifying the lease, recognition exemptions, portfolio application and transitional reporting requirements under IFRS 16 and provides an update on the impact assessment process.

Local Authority Leasing Briefing Three (PDF, 260KB)

This briefing focuses on discount rates, lessor accounting, disclosure requirements, concessionary leases – lessees and the measurement of the service concession arrangement (PFI/PPP) liability.

CIPFA/LASAAC IFRS 16 Leases Implementation Decisions

In lieu of a Local Authority Leasing Briefing Four, please refer to this code development feedback statement which indicates key IFRS 16 Leases implementation decisions by CIPFA/LASAAC arising from consultation responses and stakeholder feedback.

CIPFA/LASAAC IFRS 16 Leases proposals and FRAB feedback on areas for further consideration

FRAB has provided feedback on CIPFA/LASAAC's proposals for IFRS 16 Leases implementation for 20/21, with some areas for further consideration identified. Presentation slides indicate the main areas raised with FRAB and those where further consideration is being undertaken.

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