IASB: Post-Implementation Review of IFRS 16 (Leases)

IASB: Post-Implementation Review of IFRS 16 (Leases)

• 01 August 2025
• Accounting
• South African Accounting Academy

Summary:

The International Accounting Standards Board (IASB) has published a request for information as a post-implementation review on IFRS 16 (Leases) evaluating whether IFRS 16 is broadly working as intended for investors, companies, auditors and regulators. 

Article:

IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases, and is aimed to improve information that companies provide about their lease arrangements to investors and other users of financial statements. 

But is IFRS 16 (leases standard) working as intended?

The Standard was issued in January 2016 and came into effect for annual reporting periods beginning on or after January 2019.

Post-implementation Reviews are a vital part of the IASB’s due process. The IASB conducts a review a few years after a Standard has been implemented to assess its real-world effects. The IASB began the post-implementation review of IFRS 16 in June 2024.

Deadline for comments is 15 October 2025.

Click here to download the 31-page document:

https://www.ifrs.org/content/dam/ifrs/project/pir-ifrs-16/rfi-iasb-2025-1-pir-ifrs-16.pdf 

Relevance to Auditors, Independent Reviewers & Accountants:

• As an auditor and independent reviewer, you need to consider your clients’ compliance with accounting standards.
• As an accountant and compiler of financial statements, you need to consider amendments to and reviews of standards that are issued by the standard-setting bodies, e.g. IASB, IAASB, etc.

Relevance to Your clients:

• An entity compiling filing financials need to consider amendments to and reviews of standards that are issued by the standard-setting bodies, e.g. IASB, IAASB, etc.

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