We can help you implement IFRS 16 in a cost-effective way.
Who are we?
We are part of a market-leading provider of technology-enabled administration solutions with over 6,000 employees working across the globe.
Our market leading treasury team works with both UK public sector and corporate clients providing treasury management, asset financing and lease advisory services.
What is IFRS 16?
IFRS 16 requires lessees to adopt a single lease accounting model. This means lessees must recognise nearly all leases ‘on balance sheet’, with a term of over 12 months, and recognising a right of use asset and a lease liability. For significant users of Operating Leases, this change is material.
Although IFRS 16 became effective for annual reporting periods beginning on or after 1 January 2019, for public sector bodies applying the Financial Reporting Manual (FReM) it was postponed to 1 April 2022 for the NHS and 1 April for Local Authorities.
Whether you are adopting IFRS 16 or have already adopted and looking for more efficient ways to manage your IFRS 16 obligations, we are here to help.
For more information about how we can support, please get in touch.