Beyond the GAAP - No.151 - January 2021

2021 opens with a relatively stable IFRS framework in which to prepare the consolidated financial statements for this financial year, given the limited number and scope of the standards coming into force on 1 January.

Nevertheless, the IASB continues to maintain existing standards, while also conducting standard-setting and research activities, as evidenced by the three projects presented in this edition: the possible extension of the period covered by the IFRS 16 amendment on COVID-19-related rent concessions, the publication of an exposure draft on the recognition of regulatory assets and liabilities, and the issue of a discussion paper on business combinations under common control.

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