Manabat & Co. 32 Series of 2019 - Amendments to Annex "A" of Board Resolution No. There are testable success criteria for 01, Series of 2017, Resolution No. Please see our IFRS in Focus — Accounting considerations related to the Coronavirus 2019 Disease highlighting some of the key issues to be considered by the entities in preparing their financial statements and our IAS Plus resource page on accounting considerations related to COVID-19. December 14, 2020. Philippines Accounting standards updates and background information from Deloitte's IAS Plus service. 91 Series of 2019 - Enrolling the Additional Partners of Navarro Amper & Co. in the Practice of Public Accountancy, Resolution No. Amends the existing requirements in IFRS 9 regarding termination rights in order to allow measurement at amortised cost (or, depending on the business model, at fair value through other comprehensive income) even in the case of negative compensation payments. Once entered, they are only 04 (s.2018) - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of April 2017, Resolution No. In addition, amendments have been included to clarify the effect of a plan amendment, curtailment or settlement on the requirements regarding the asset ceiling. 14 (s.2018) - Endorsing the Registration of the League of Provincial City and Municipal Accountants of Rizal Inc. with the Securities and Exchange Commission, Resolution No. Deferral approach effective for annual periods beginning on or after 1 January 2018 and only available for five years after that date. New PFRS standards effective after 1 January 2018. 08 (s.2018) - Ratification of Applications for the Accreditation as Accounting Teachers Approved by the Board Focal Person for the Month of April 2017, Resolution No. Contact no. 3264. 93 Series of 2019 - Ratification Of Applications for the Accreditation as Accounting Teachers Approved by the Board Focal Person for the Month of October 2019, Resolution No. 114 Series of 2016- Amendments to Resolution Nos. With little fanfare and next to no media coverage, an obscure rule change from the Financial Accounting Standards Board (FASB) could lead to big changes … 05 Series of 2019 - (AASC), Resolution No. Local accounting firms and partnerships have likewise entered the mainstream of international practice, establishing tie-ups with the Big Five of the accounting world, namely, Arthur Andersen, Price Waterhouse Coopers, Ernst & Young, KPMG, and Deloitte Tohmatsu International. Home Page (Combination + H): Redirecting to homepage. 2021-22: AASB 1058 Income of Not-for-Profit Entities. 2019-20: AASB 17 Insurance Contracts. 68 Series of 2016- Amending Resolution No. Entitled 'An Act Regulating the Practice of Public Accounting; Creating the Board of Accountancy; Providing for Examination, for the Granting of Certificates, and the Registration of Certified Public Accountants; for the Suspension or Revocation of Certificates; and for Other Purposes,' the law paved the way for local accountants to do the work which, up to that time was performed by foreign accountants in the country. The amendments in Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) are: Issued: 7 February 2018 Article Newsletter. 01 Series of 2019 - Amendments to Board of Accountancy Resolution Nos. 38 (s.2018) - Enrolling the Additional Partner of Lupo S. Ramos & Co. in the Practice of Public Accountancy, Resolution No. 29 (s. 2020) - Reconstitution of the Continuing Professional Development Council (CPDC) for Accountants, Amending for the Purpose Board Resolution No. The document contains amendments to IFRS 2, IFRS 3, IFRS 6, IFRS 14, IAS 1, IAS 8, IAS 34, IAS 37, IAS 38, IFRIC 12, IFRIC 19, IFRIC 20, IFRIC 22, and SIC-32. 89 Series of 2019 - Designation of Chairman and Members of the Executive Committee of the Quality Assurance Review (QAR), Resolution No. A guide to understanding and implementing Web Content Accessibility Guidelines 2.0 IFRS 17 supersedes IFRS 4 Insurance Contracts as of 1 January 2023. 163 Series of 2017 - Deferment of the Implementation of Paragraphs 13 and 14 (4) of Resolution no. The PICPA is an active participant in the world’s major accounting bodies such as the International Federation of Accountants (IFAC), International Accounting Standards Committee (IASC), Confederation of Asian and Pacific Accountants (CAPA), and the ASEAN Federation of Accountants (AFA). 262 Series of 2015- Revisions in the subjects of the Board Licensure Examination for Certified Public Accountants (BLECPA), Resolution No. All iGovPhil Project services and content are currently moving towards WCAG Level A 40 (s.2018) - Designation of Accreditation Board Focal Person, Resolution No. Since the beginning of calendar 2013, such corrections have been made in March 2013, September 2013, November 2013, March 2014, September 2014, December 2014, March 2015, April 2015, September 2015, December 2015, March 2016, May 2016, September 2016, December 2016, September 2017, November 2017, December 2018, February 2019, May 2019, December 2019, and July 2020. : (02) 723 0691 33 (s. 2020) - Resolution Amending Section 14 of Resolution No. In 1937, the Institute’s official journal, “The Philippine Accountant’s Journal,” was first published. Re-accredited: Res. The tables below outline the effective dates of International Financial Reporting Standards, separately identifying the effective date of each significant amendment made to those standards. 24 (S 2018), Resolution No. 41 (s. 2020) - Philippine Standard on Auditing, Board Resolution No. 92 Series of 2019 - Enrolling the Additional Partner of Sycip, Gorres, Velayo & Co. in the Practice of Public Accountancy, Resolution No. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox. 87 Series of 2019 - Enrolling the Additional Partner of Banaria, Banaria & Company in the Practice of Public Accountancy, Resolution No. With the PRC, the Board made representations with the DECS for the adoption of standards for the organization and operation of professional accounting programs leading to the prescription of a common baccalaureate degree – Bachelor of Science in Accountancy. New Accounting Standards Upcoming Effective Dates for Public and Private Companies Board Resolution No. Accounting Standards (AS 1~32) are issued/ amended by the Accounting Standards Board of ICAI, to establish uniform standards for preparation of financial statements, in accordance with Indian GAAP (Generally Accepted Accounting Practices), for better understanding of the users. 29 (s.2018) - Enrolling the Additional Partner of Sycip, Gorres, Velayo & Co. in the Practice of Public Accountancy, Resolution No. Messages on the new Standards. 02 (s.2018) - Ratification of Applications for the Accreditation as Accounting Teachers Approved by the Board Focal Person for the Month of May 2017, Resolution No. These publications provide an illustrative set of consolidated financial statements, prepared in accordance with Philippine Financial Reporting Standards (PFRS). Issued: 12 September 2016 Article Newsletter. Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 80 percent of the Fortune 500. 2. Issued: 31 October 2018 Article Newsletter, Annual reporting periods beginning on or after 1 January 2020. If a plan amendment, curtailment or settlement occurs, it is now mandatory that the current service cost and the net interest for the period after the remeasurement are determined using the assumptions used for the remeasurement. As minor editorial corrections, these changes are effectively immediately applicable under IFRS. 83 Series of 2016 - Ratification of Applications for the Issuance of Certificates of Accredication to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of September 2019, Resolution No. Article on extension Extension not yet endorsed for use in the EU. Work is being done to make the system fully compliant with this level. 19 (s. 2020) - Granting the Extension of the Validity of Certificate of Accreditation of Individual Certified Public Accountants and Partnerships/ Firms Engaged in Public Accountancy Practice, Board Resolution No. 3105 in 1923, through six (chairman and five members) under Republic Act No. 41 (s.2018) - Designation of Special Temporay Permit (STP) Board Focal Person, Amending for the Purpose Board Resolution No. 3105 was approved by the Sixth Legislature. Feedback (Combination + K): Feedback page. 31 (s. 2020) - Ratification of Applications for the Accreditation as Accounting Teachers Approved by the Board Focal Person for the Month of July 2020, Board Resolution No. Similarly, 2nd quarters ending on 31 March 2020 refer to annual periods that began on 1 October 2019, 3rd quarters ending on 31 March 2020 refer to annual periods that began on 1 July 2019, and 4th quarters ending on 31 March 2020 refer to annual periods that began on 1 April 2019. In The Practice of Public Accountancy, Board Resolution No. 5. The Institute greatly contributed to elevating and upgrading the accountancy profession and education and vigorously pushed for enactment of several legislative measures that ensured the high standards of the profession. No. The information below reflects developments to 25 June 2020 and will be updated through to June 2020 to reflect new and revised financial reporting requirements that need to be considered for financial reporting periods ending on 31 March 2020. Article on deferral. The increasing complexity of professional regulation and the developments in the practice of the profession have occasioned the expansion of the Board of Accountancy – from three members (president and two members) under Act No. 23 (s. 2020) - Ratification Of Applications For The Accreditation As Accounting Teachers Approved By The Board Focal Person For The Month of March 2020, Board Resolution No. The Board periodically reviews school curricula and syllabi to maintain their relevance, particularly in the area of information technology. No person shall be appointed a member of the Board of Accountancy unless he: Although accounting has been practiced in the Philippines since the Spanish period and possibly even before, the seeds of Philippine accountancy as a recognized profession were planted on March 17, 1928, when Act No. More information about these pronouncements, and all new and revised pronouncements, is set out below. 692 (The Revised Accountancy Law) in 1975. Since then, both the profession and the body that directly regulates it have grown rapidly. 30 (s. 2020) - Ratification of Applications for the Accreditation of Individual Certified Public Accountants (CPAs), Firms and Partnerships in the Practice of Public Accountancy Approved by the Board Focal Person for the Month of July 2020, Board Resolution No. Note: For details of these editorial corrections, see our IASB editorial corrections page. 16 (s. 2020) - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of March 2018, Board Resolution No. Amends IFRS 17 to address concerns and implementation challenges that were identified after IFRS 17 Insurance Contracts was published in 2017. 03 (s.2018) - Designation of Board Focal Person for the Evaluation of Requests for PRC's Comments and/or Recommendations on the Registration of Organizations/Associations with the Securities and Exchange Commission, Resolution No. Effective 2018. All content is in the public domain unless otherwise stated. Website: http://www.picpa.com.ph/ Immediately available.Not yet endorsed for use in the EU. Financial Instruments. This certifies COVID-19 accounting considerationsBelow is our usual analysis of new and amended standards, however, we are also aware that most, if not all, entities will have been impacted by the COVID-19 events. 25 (s. 2020) - Enrolling the Additional Partners of R.G. 95 Series of 2019 - Ratification of Applications for the Issuance of Certificates of Accredication to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of October 2019, Resolution No. to promote and maintain high professional and ethical standards among accountants; develop and improve accountancy education; encourage cordial relations among accountants; and protect the Certificate of Certified Public Accountant granted by the Republic of the Philippines. 36 Series of 2017 - New Procedure in the Conduct of the Office Visitation, Amending for the Purpose Board Resolution No. 07 (s.2018) - Ratification of Applications for the Issuance of Certificates of Accreditation to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of May 2017, Resolution No. Leases. Job opportunities for Accounting,Finance in Pasig, Philippines. Regulation of CPA firms and partnerships. 35 (s. 2020) - Ratification of Applications for the Accreditation of Individual Certified Public Accountants (CPAs), Firms and Partnerships in the Practice of Public Accountancy Approved by the Board Focal Person for the Month of August 2020, Board Resolution No. The amendment provides lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. 42 (s. 2020) - Ratification of Applications for the Accreditation as Accounting Teachers Approved by the Board Focal Person for the Month of October 2020, Board Resolution No. 96 Series of 2019 - Ratification of Applications for the Issuance of Certificates of Accredication to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of February 2018, Resolution No. Recent history of our Accounting Standards' Frameworks Targeted Review of the Accounting Standards Framework Auditing & Assurance Standards Framework Convergence with international auditing & assurance standards On December 7, 1925, Act No. This pronouncement has already been implemented in previous periods by entities with this reporting date (where it applied to the entity). Issued: 12 October 2017 Article Newsletter, Annual periods beginning on or after 1 January 2019. Overlay approach to be applied when IFRS 9 is first applied. Annual reporting periods beginning on or after 1 January 2022Not yet endorsed for use in the EU. Clarifies that an entity applies IFRS 9 Financial Instruments to long-term interests in an associate or joint venture that form part of the net investment in the associate or joint venture but to which the equity method is not applied. It also initiated the continued monitoring of schools’ performance in the CPA examinations and the recommendation of corrective measures, as necessary. The amendments update an outdated reference to the Conceptual Framework in IFRS 3 without significantly changing the requirements in the standard. is available at: https://www.w3.org/TR/UNDERSTANDING-WCAG20/. 2008-448 dated May 19, 2008. 2019-20: AASB 1059 Service Concession Arrangements: Grantors. ** This pronouncement has already been implemented in previous periods by entities with this reporting date (where it applied to the entity). Mandaluyong City 11 (s.2018) - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of July 2017, Resolution No. Under paragraph 30 of PAS 8, entities need to disclose any new PFRSs that are issued but not yet effective and that are likely to impact the entity. Effective 2019. 2020. an option that permits entities to reclassify, from profit or loss to other comprehensive income, some of the income or expenses arising from designated financial assets; this is the so-called overlay approach; an optional temporary exemption from applying IFRS 9 for entities whose predominant activity is issuing contracts within the scope of IFRS 4; this is the so-called deferral approach. Tel No. The PPSAS were first based on the 2012 accrual-basis IPSAS developed by the IPSASB accompanied by a Philippine Application Guidance (PAG) for cases in which IPSAS deviate from the Philippine regulatory or legislative environment. The IPSASB Issues Guidance on Public Sector Specific Financial Instruments. It specifically considers: Amends IFRS 4 Insurance Contracts provide two options for entities that issue insurance contracts within the scope of IFRS 4: The application of both approaches is optional and an entity is permitted to stop applying them before the new insurance contracts standard is applied. This means that Philippine accountants will be freely competing with in the global playing field against accountants from other parts of the world and will be able to hold their own. Revenue; Leases. This table does not include the effective dates of minor consequential amendments that are the result of new or revised pronouncements. 88 Series of 2019 - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of November 2017, Resolution No. 15 (s.2018) - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of May 2017, Resolution No. Site Map (Combination + M): Site map (footer agency) section of the page. 274 Series of 2015- Issuance and Promulgation of the New Syllabi of the Subjects in the Board Licensure Examination for Certified Public Accountants (BLECPA), Resolution No. 2021. Users disappointed in disclosure prior to effective date: Not many new questions. Shaw Boulevard, Mandaluyong City. 10 (s.2018) - Ratification of Applications for the Accreditation as Accounting Teachers Approved by the Board Focal Person for the Month of June 2017, Resolution No. 20 (s. 2020) - Philippine Standard on Auditing 250 (Revised) Consideration of Laws and Regulations in an Audit of Financial Statements including Related Conforming Amendments to Other Philippine Standards, Board Resolution No. In The Practice Of Public Accountancy, Resolution No. Fax No. Full computerization of the CPA licensure examinations. Please read, IFRS in Focus — Accounting considerations related to the Coronavirus 2019 Disease, IAS Plus resource page on accounting considerations related to COVID-19, New and revised pronouncements as at 31 December 2019, New and revised pronouncements as at 30 June 2020, IFRS in your pocket - our guide to all pronouncements on issue, Model financial statements and checklists, Our summary of all standards and interpretations, New and revised pronouncements as at 31 December 2020, New and revised pronouncements as at 30 September 2020, IASB finalises phase 2 of its IBOR reform project, IASB defers effective date of IAS 1 amendments, Consolidated version of IFRS 17 incorporating the June 2020 amendments, IASB finalises narrow-scope amendments to IFRS 17 and IFRS 4, IFRS in Focus — IASB issues 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)', IFRS compliance, presentation and disclosure checklist 2020, IFRS in Focus — IASB defers effective date for 'Classification of Liabilities as Current or Non-current', Effective date of IBOR reform Phase 2 amendments, Effective date of IFRS 3 amendments updating a reference to the Conceptual Framework, Effective date of IAS 37 amendments regarding onerous contracts, Effective date of 2018-2020 annual improvements cycle, Effective date of IAS 16 amendments regarding proceeds before intended use, Whether tax treatments should be considered collectively, Assumptions for taxation authorities' examinations, The determination of taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates, The effect of changes in facts and circumstances. 21 (s.2018) - Enrolling the Additional Partner of R. G. Manabat & Co. in the Practice of Public Accountancy, Resolution No. 97 Series of 2019 - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of February 2018, Resolution No. 36 (s. 2020) - Enrolling the Additional Partners of Lope Laranjo Bato & Co. in The Practice of Public Accountancy, Board Resolution No. 81 Series of 2019 - Reconstitution of the Continuing Professional Development Council (CPDC) For Accountants, Amending for the Purpose Board Resolution No. description of the nature and effect of any change in accounting policies and methods of computation. As a member firm of Deloitte Touche Tohmatsu Limited, a network of member firms, we are proud to be part of the largest global professional services network, serving our clients in the markets that are most important to them. 44 (s.2018) - Board and Commission Ratification of All Issued Certificates of No-Objection, Certificates of No-Jurisdiction and Certificates of Non-Concurrence as Acted and/or Decided Upon by the Board Focal Person fro June 2018, Resolution No. Annual periods beginning on or after 1 January 2020. 38 (s. 2020) - Adopting the Change of Partnership Name of Balicas, Lamboso & Co. on the Records of the Professional Regulatory Board of Accountancy and the Professional Regulation Commission To J. 03 Series of 2016- Requiring the submission of certificate by the responsible Certified Public Accounts on the compilation services for the preparation of financial statements and notes thereto. each guideline. This is due, in no small measure, to the long and distinguished careers of the country’s accountants, to the linkages that local firms have forged with the world’s biggest accounting firms, and to the integrity with which the Board of Accountancy and the Professional Regulation Commission are now administering a profession that has acquired a global perspective. Together with the revised Conceptual Framework published in March 2018, the IASB also issued Amendments to References to the Conceptual Framework in IFRS Standards. These requirements are designed to achieve the goal of a consistent, principle-based accounting for insurance contracts. 24 (s.2018) - Reconstitution of the Continuing Professional Development Council (CPDC) for Accountants, Amending for the Purpose Board Resolution No. Board Resolution No. 34 Series of 2019 - Ratification of Applications for the Issuance of Certificates of Accredication to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of March 2019, Resolution No. PICPA House, 700 Shaw Boulevard Compliance to these criteria is measured in three levels: A, AA, or AAA. Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current: Extra: Mar 2020: 1 Jan 2022: 2020-2: Amendments to Australian Accounting Standards – Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities: Mar 2020: 1 … But over and above its regular functions of standardizing and regulating accounting education, conducting examinations for registering CPAs, and maintaining the rules of the practice, the Board has taken the lead in raising the standards of the profession to a very high level of excellence, as evidenced by the following developments: In 1975, with the accreditation by the PRC of the Philippine Institute of Certified Public Accountants (PICPA) as the bona fide professional organization representing CPAs in the country, the Board has coordinated with PICPA to further strengthen the profession. 07 Series of 2019 - (FRSC), Resolution No. 06 (s.2018) - Ratification of Applications for the Issuance of Certificates of Accreditation to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of April 2017, Resolution No. 09 (s.2018) - Ratification of Applications for the Issuance of Certificates of Accreditation to CPA's in Commerce and Industry Practice Approved by the Board Focal Person for the Month of June 2017, Resolution No. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract (examples would be direct labour, materials) or an allocation of other costs that relate directly to fulfilling contracts (an example would be the allocation of the depreciation charge for an item of property, plant and equipment used in fulfilling the contract). In 2019, FASB finalized two proposed Accounting Standards Updates (ASUs) – one of which extended the implementation deadline for the new standards on leases that were not yet effective to the first fiscal year after Dec. 15, 2020, instead of Dec. 15, 2019, as originally mandated. Application for Registration w/o Examination, Renewal of Professional Identification Card, Issuance of Duplicate Professional Identification Card, ■ Application for Registration without Examination, ■ Guidelines for Renewal of Professional Identification Card, ■ Accreditation of Real Estate Salesperson, ■ Accreditation of Medical Representative, ■ Stateboard Verification / Validation of Registration/License, ■ Replacement Certificate of Registration (COR), ■ Lists of Accreditation/ Registration/Compliance/Authority, Operational Guidlines During the Transition Period, Certificate of Ineligibility for Non-Filipino Citizens, Application Form Special Permit for Former Filipino Professional, AQRF Referencing Report of the Philippines, The Code of Ethics for Professional Accountants in the Philippines, Resolution No. 2016-68, in Relation to Resolution no. Philippine Institute of Certified Accountants. compliance. This listing can be used to perform a quick check that new financial reporting requirements such as new and revised accounting standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process. Is not directly or indirectly connected with any school, college, or university granting degrees that may qualify graduates with such degrees for admission to the Certified Public Accountant examinations, or with Certified Public Accountant’s Review School or Institute, nor shall have any pecuniary interest in such school, college, university or Certified Public Accountant’s Review School or Institute. The standard provides a single lessee accounting model, requiring lessees to recognise assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value. Many others have been cabinet members, heads of government agencies, chairmen and members of corporations and institutions, heads and professors in the academe, and entrepreneurs. 33 Series of 2019 - Ratification of Applications for the Accreditation of Individual Certified Accountants (CPA's), Firms and Partnerships in the Practice of Certified Public Accountancy Approved by the Board Focal Person for the Month of March 2019, Resolution No. Practice of accountancy shall constitute in a person, be it in his individual capacity, or as a partner or staff member in an accounting or auditing firm, holding out himself as one skilled in the knowledge, science, and practice of accounting, and as qualified to render professional services as a certified public accountant; or offering or rendering, or both, to more than one client on a fee basis or otherwise, services such as the audit or verification of financial transactions and accounting records; the preparation, signing, or certification for clients of reports of audit, balance sheets, and other financial accounting and related schedules, exhibits, statements, or reports which are to be used for publication or for credit purposes, or to be filed with a court or government agency, or to be used for any other purpose; the installation and revision of accounting system, the preparation of income tax returns when related to accounting procedures; or when he represents clients before government agencies on tax matters related to accounting or renders professional assistance in matters relating to accounting procedures and the recording and presentation of financial facts or data. However, on 22 December 2005, the Philippines Securities and Exchange Commission issued PAS 101 entitled Financial Reporting Standards For Non-Publicly Accountable Entities (NPAEs), as approved by the Accounting Standards Council, to provide temporary relief to qualified small and medium-sized entities from applying the new accounting standards. 254 (s. 2017) on the Conduct of Online Learning, Board Resolution No. Six Members ) under Presidential Decree No 1st quarter ending on 31 March.... ( 'The Accountancy Act of parliament methods of computation test that permits a simplified assessment of whether acquired. 14 of Resolution No it have grown rapidly: issued: 13 January 2016 summary of new and revised reporting! In Associates and Joint Ventures re: provides lessees with an exemption from assessing whether COVID-19-related! 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