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IFRS 16 - Leases

Implementing of new accounting standards

Deloitte’s Financial Reporting Advisory team assist clients to develop proactive yet measured approaches to help navigate the adoption of this complex new accounting standard.

IFRS 16 - Leases

The IASB has published its long awaited Leases Standard IFRS 16, effective for periods beginning on or after 1 January 2019.

This standard will result in many leased assets, previously held off balance sheet, being brought onto companies’ books, potentially adding billions in lease-intensive industries. Balance sheets, income statements and KPIs could all be fundamentally affected with challenging judgements, choices and system requirements lying in wait for many.

Phases for adopting IFRS 16