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IFRS 16 resources

IFRS 16 Leases has been published and is effective for periods beginning on or after 1 January 2019.  The FRC expects companies to apply this new standard properly and provide sufficient specific disclosure of the impact including key judgements made and clear communication of the transition methods adopted. It has published a thematic review to help companies with disclosures in this area.    

This page includes all of our resources on IFRS 16 to help preparers for the forthcoming reporting season.  It includes links to:

Additionally this page includes groupings for:

IFRS 16 resources

Thinking Allowed — The new lease accounting

31 Aug 2016

This publication explains the new requirements and gives you some tools for assessing how your financial statements are likely to be affected. It identifies the areas where accounting judgement will be required—mainly around identifying whether you have a lease or a service agreement, or both; renewal options; and determining the discount rate, particularly on property leases.

FRAB minutes for June 2016 meeting released

17 Aug 2016

The minutes of the Financial Reporting Advisory Board’s (FRAB’s) meeting of 23 June 2016 have been made available on the HM Treasury website.

HMRC consults on changes to lease taxation as a result of IFRS 16

12 Aug 2016

HM Revenue and Customs (HMRC) has published a consultation on the impact of International Financial Reporting Standard (IFRS) 16 ‘Leases’ on the taxation of leases of plant or machinery and possible options to address those impacts.

ICAEW and IFRS Foundation announce IFRS 16 conference

21 Jul 2016

The IFRS Foundation, along with the Institute of Chartered Accountants in England and Wales (ICAEW), will be hosting an IFRS conference on the implementation of IFRS 16, "Leases," in London on 7 October 2016.

EFRAG issues feedback summary on recent leases outreach event

20 Jul 2016

The European Financial Reporting Advisory Group (EFRAG) has issued a summary of the feedback received on a joint leases outreach event co-hosted by the European Federation of Financial Analysts Societies (EFFAS), and the Association Belge des Analystes Financiers (ABAF/BVFA) on 5 July.

Leases — A guide to IFRS 16

05 Jul 2016

This guide, in addition to providing a detailed summary and explanations of the requirements of IFRS 16 'Leases' covering all of the requirements of the standard, includes (1) an executive summary; (2) a section focusing specifically on the practicalities of transition; (3) ‘thinking it through’ practical tips interspersed throughout the detailed guide; (4) presentation/disclosure checklists; and (5) a high level IFRS/US GAAP comparison.

IASB posts webcast on IFRS 16 lessee measurement

30 Jun 2016

As part of the IASB's webcast series on IFRS 16 implementation, the IASB staff has made available a webcast discussing the measurement requirements for lessees in IFRS 16 'Leases'.

EFRAG, EFFAS and ABAF/BVFA joint investor outreach on leases

20 May 2016

The European Financial Reporting Advisory Group (EFRAG), the European Federation of Financial Analysts Societies (EFFAS), and the Association Belge des Analystes Financiers (ABAF/BVFA) will host a joint event on 5 July in Brussels on new leases standard, IFRS 16.

IASB publishes editorial corrections

20 May 2016

The IASB has published editorial corrections to consequential amendments made by IFRS 16 'Leases'.

EFRAG endorsement status report 17 May 2016

17 May 2016

This endorsement status report update reflects that EFRAG published draft endorsement advice on 'Clarifications to IFRS 15'. Endorsement is currently expected in the first quarter of 2017.

IASB posts webcast featuring Sue Lloyd on IFRS 16 exemptions

03 May 2016

As part of the IASB's webcast series on IFRS 16 implementation, the IASB staff has made available a webcast on recognition exemptions for lessees, featuring IASB board member Sue Lloyd.

ICAEW to hold a technical update event

19 Apr 2016

The Institute of Chartered Accountants in England and Wales (ICAEW) is holding a technical update event in May for recently qualified members.

IASB webcast on the definition of a lease now available

13 Apr 2016

As part of the IASB webcast series on IFRS 16 implementation, the IASB staff has made available a webcast related to the definition of a lease.

IASB Chairman discusses lease accounting

01 Apr 2016

IASB Chairman Hans Hoogervorst has written an article “Shining the Light on Leases” that discusses the problems with current lease accounting requirements and how the IASB addresses these in its new standard IFRS 16 'Leases'.

IASB updates editorial corrections

24 Mar 2016

The IASB has published an updated version of the editorial corrections made available on 9 March 2016.

IASB issues "Investor Update" newsletter

22 Mar 2016

The IASB has issued the ninth edition of its newsletter “Investor Update,” which provides investors with quick access to information about current accounting and financial reporting topics.

IASB webcast on IFRS 16 transition now available

18 Mar 2016

As part of the IASB webcast series on IFRS 16 implementation, the IASB staff has made available a webcast related to IFRS 16 transition requirements for lessees.

IFRS conference on implementing IFRS 16

17 Mar 2016

The IFRS Foundation has announced an IFRS conference 'Implementing IFRS 16: Leases' in London on 20 May 2016.

Point of view — Power and Utilities — implications of the new leasing standard

15 Mar 2016

This publication highlights issues from the new leasing standard that will be of interest to those in the Power and Utilities sector.

Stay Tuned Online - IFRS and UK GAAP update March 2016

14 Mar 2016

The following topics are covered in the March 2016 webcast: 1 - Revenue - latest developments, 2 - The Financial Reporting Council's (FRC's) 2015 Corporate Reporting Review, 3 - Leasing - the new International Financial Reporting Standard (IFRS) 4 - a round up of other UK corporate reporting news and 5 - IFRS developments and reminders.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.