How property and lease data drives IFRS 16 compliance
Experts from Deloitte have said that 75% of organisations have not yet started their IFRS 16 implementation projects. This is because organisations often think they can complete the implementation in a few weeks. This is not the case; this new standard is very different from other changes, and will require input from many other departments including property.
Property leaders acknowledge that up to a third of their data is inaccurate in regard to the number of buildings, square metres, utilisation and costs (JLL research). Lack of data and inaccuracy of data not only negatively impact organisational alignment, portfolio decision making and overall property costs. They will also impact a timely and accurate implementation of the new lease accounting regulations ASC 842 and IFRS 16.
Without proper property and lease contract data, a compliant and cost-efficient implementation of these new standards before January 2019 is simply impossible. In this webinar, Planon explains the value of combining property management with IFRS 16 compliance.
In this webinar you’ll learn about:
- The importance of property being involved in your organisation’s IFRS 16 project
- Examples of reporting, portfolio analysis and KPIs
- How Planon and our accounting partners can support your project
To view this webinar, please fill out the form.