ITC 55 Post-implementation Review of AASB 16 Leases

Friday, June 27, 2025

Your feedback is requested to inform the post-implementation review (PIR) of AASB 16 Leases – are any changes needed to the Standard?

When AASB 16 was issued, the aim was to improve the information provided to investors and users of financial statements about an entity’s lease arrangements.

As the IASB are currently undertaking a PIR of IFRS 16 Leases, to align the IASB and AASB PIRs, the AASB are seeking feedback on the application of AASB 16, which incorporates IFRS 16, in Australia.

ITC 55 includes three sections and is structured as follows:

Section	Summary	To whom is this section relevant?
Section 1: AASB general matters for comment	This section includes three general questions relevant to all entities applying AASB 16.	All stakeholders
Section 2: NFP and public sector topics for comment	This section seeks feedback from NFP and public sector stakeholders on sector-specific application issues identified by the AASB during the planning phase of this PIR.	NFP private and public sector stakeholders For-profit public sector stakeholders
Section 3: IASB Request for Information	This section contains the IASB’s RFI on IFRS 16 in full. Stakeholders providing feedback on this section can address the IASB’s questions with reference to AASB 16.	For-profit private sector stakeholders Parts of Section 3 are relevant to NFP and public sector stakeholders

Online outreach activities are planned to take place in August.

Please submit your comments to the AASB by 5 September 2025, via the website or email to [email protected].

Comments to the IASB are due by 15 October 2025.