Our publications IFRS 16 - Prepare for lease accounting changes
The new IFRS 16: Leases standard has been issued by the IASB. The core principle of the new standard is that lessees should recognise all leases on their balance sheet.
The new pronouncements may not only necessitate updates to existing fi nancial accounting policies, procedures and systems, but also aff ect controls and contracts.
Even if accounting policies are not aff ected, signifi cant new disclosures and lease management activities are required that suggest the need for planning.
We believe that most companies will need to consider making changes in the following areas: