Who is impacted by ifrs




















Since the adoption of IFRS 16, this is no longer necessary as these companies can present net debt from the balance sheet which includes lease liabilities. Overall, the survey suggests that companies most affected by the implementation of IFRS 16 have communicated to investors the impact of the first-time adoption of the standard with transparency and have provided additional management commentary where necessary to explain any changes.

Finance leaders are under pressure to deliver more reporting more quickly in an environment of technological change, increased regulatory change and increased scrutiny. EY can support clients in this ever-changing landscape. Adoption of the IFRS 16 accounting standard for leases is starting to impact balance sheets for companies that choose to lease rather than buy assets. As a result, almost all leases are on the balance sheet. The EY survey shows that companies in the air travel, retail and transportation sectors have been most affected and are facing implications in terms of the financial statements, management commentary and use of alternative performance measures.

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Lessors should also remain alert as lessees may wish to renegotiate lease terms and structure future leases differently. In reality, nothing has changed: the affected companies have always held these lease commitments. However, the commitments will now be reflected on the balance sheet for all to see. Based on our interaction with market participants in , many companies are still struggling with implementation or are just starting to understand how they will be affected.

For most, the standard is already effective and has real consequences on finance and operations — are you sure you are ready? The details behind IFRS 16 are complex and must be carefully implemented and clearly explained in company financial reports throughout To learn more about TMF Group and our services, talk to us. About us Services Locations News and insights Careers. Make an enquiry. Executive committee The executive committee at TMF Group is made up of ten senior leaders in their fields.

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