The Malaysian Accounting Standards Board (MASB) has issued ‘Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to MFRS 16)’, an extension to the practical expedient period in the amendments to MFRS 16 ‘Leases’ made last year. This extension is for one year, so the application period now extends until 30 June 2022.

Read our publication to know more.