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ISCA broadly supports and agrees with IASB’s proposals except for the following:
- Proposed amendment to illustrative examples accompanying IFRS 16
In our view, the mere removal of the illustration and the explanation provided in the basis for conclusion will not address the confusion. Instead, the illustration should be retained, and there should be additional explanation on the treatment of lease incentive.
- Proposed amendment to IFRS 9
Notwithstanding the limited application of IAS 39, similar amendments should be made to IAS 39 since paragraph AG62 of IAS 39 contains the same requirements as those in paragraph B3.3.6 of IFRS 9.
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