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IFRS 16

Easing your transition using the power of digital

IFRS 16 requires all material operating leases to be recorded on balance sheet from 1 January 2019. For some companies with large, complex or geographically diverse lease portfolios, this will present a significant change. The impact extends far wider than the accounting function, so stakeholders from other areas of the business including: IT, Treasury, Tax, Reward and Investor Relations need to be engaged early.
Helping you implement IFRS 16: our leasing transition tools

We can help you achieve an efficient and effective transition to IFRS 16.

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Download IFRS 16

Easing your IFRS 16 transition with digital solutions

IFRS 16: in depth. PwC’s Inform takes a closer look

Helping you implement the new leasing standard

  • We can help you understand the specific impacts IFRS 16 will have on your business.
  • We can develop an initial quantitative impact of IFRS 16 using our tool.
  • We can prepare an impact assessment report with recommendations you can use to facilitate conversations with stakeholders.
  • We can prepare a robust project plan tailored to your needs.

  • We can plan for the data extraction exercise by qualifying your lease portfolio and data needs. We can extract data from contracts quickly and efficiently by using technology.
  • We can validate the data extracted to give you confidence over accuracy and completeness.
  • We can help you manage your lease data and contracts using our workflow tool.

  • We can design a robust model which uses your lease data to quantify the impact.
  • We can devise new processes and test scenarios based on different judgements and transition methods.
  • We can provide user friendly data outputs which can be used to engage wider stakeholders.

  • We can help you choose the right long-term system for your lease requirements.
  • We can redesign business processes and controls for your new system.
  • We can provide full systems implementation support including project management support, design and testing.
     

Why Partner with PwC

  • Our combined leasing, data and business transformation capabilities deliver an effective transition
  • Our digital solutions offer you speed and efficiency
  • Our approach is modular, you choose the right PwC solution for your requirements

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“IFRS 16 presents the most widespread change to lease accounting since IFRS was introduced in 2005”

Meet the team

Contact us

Richard Veysey

Richard Veysey

Partner, Accounting Change, PwC United Kingdom

Tel: +44 (0)7718 976 960

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