Exposure Draft 75, Leases
The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft 75, Leases.
ED 75 proposes an IFRS 16, Leases aligned model for lease accounting in the public sector.
For lessees, as with the IPSASB’s previous proposals in ED 64, ED 75 proposes a right-of-use model that will replace the risks and rewards incidental to ownership model in International Public Sector Accounting Standard® (IPSAS®) 13, Leases. For lessors, ED 75 proposes to substantially carry forward the risks and rewards incidental to ownership model in IPSAS 13 in response to ED 64 comments and practical IFRS 16 implementation experience.