Lessons learnt from IFRS 16 adopters
Download our insight guide to discover the eight lessons FRS 102 adopters can learn from organisations that transitioned to IFRS 16 back in 2019.
Gain insights from past transitions
As organisations prepare to adopt the revised FRS 102 lease accounting standard, they have a unique opportunity to benefit from the experiences of those who have already navigated this journey. By understanding the significant challenges faced during IFRS 16 adoptions, FRS 102 preparers can avoid similar pitfalls and ensure a smoother transition.
What can you expect to find in this guide?
In this guide, we explore the lessons learned, obstacles encountered, and benefits gained by adopters during their transition to IFRS 16. We also examine practical considerations and outline how these insights can help FRS 102 preparers in planning their implementation, including:
- Gathering and validating your lease data
- Ongoing maintenance and reporting
- Upgrading systems, processes and controls
- Exercising accounting judgment
- Post-implementation benefits
By leveraging these insights, organisations can confidently approach the revised FRS 102 lease accounting standard with an informed mindset.