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 1 (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 2 (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 3 (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 4, 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.