Accountancy

Global accounting chiefs relax rental rule to help Covid-hit companies

The amendment will be effective from 1 June, easing accounting rules for companies with billions in lease agreements affected by the Covid crisis

The world’s top accounting body has suspended a rule governing how companies report rental agreements, giving businesses around the world vital breathing space as they grapple with Covid-19’s hit to their finances.

The International Accounting Standards Board gave the green light for the temporary reprieve on 28 May after a month-long review.

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