Breaking News - New leases standard (IFRS16)

Jan 2016

Challenge and solution

On 13 January 2016, the International Accounting Standards Board ("IASB") published the new leases standard (IFRS 16), which will be effective on 1 January 2019. The new standard fundamentally changes the accounting for lessees and will have a significant impact on many companies across various industries, especially those operating in Transportation and Logistics, Retail and Consumer, Telecommunications and Energy & Utilities. This breaking news summarises the key changes, impact and challenges that may be encountered and also proposes some solutions as companies prepare for the transition.

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