In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. The attached IFRS 16 In-depth publication includes detail discussions of the new lease accounting requirements for lessees' and lessors. IFRS 16 sets out a comprehensive model for the identification of lease arrangements 4. Latest. IFRS 16 defines a lease as a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration. You must attend the live course to receive verifiable CPD hours. Apply filters to narrow your results for publications, CPA Magazine articles, courses, webinars, blogs and more. A first-time adopter does not apply the transitional requirements of individual standards or interpretations unless specifically required to do so. Facing new challenges 1 Overview2 1 Step 1 – Identify the contract with a customer 3 1.1 Criteria to determine whether a contract exists3 1.2 Contract term 14 1.3 Consideration received before a contract exists17 Accordingly, this publication is not a substitute for professional advice and we recommend that any decisions Handbook/Analysis: Per the Handbook, IFRS 16 requires leases be recognized as an asset with a related lease obligation. . The pro forma financial information is the responsibility of the Group’s Board of directors and is presented for illustration purposes onlyand because of its nature, the In view of the resurgence of locally transmitted COVID-19 cases, the Hong Kong Institute of Certified Public Accountants announced, from Wednesday, 2 December 2020 onwards, to close the library facilities, whilst counter service hours remain normal. •Today IFRS 16 –from Lessee’s perspective, capitalize all leases except short term and immaterial leases. This webinar for the fourth quarter of 2020 is part of our IFRS webinar series and provides you with the latest updates on issues of relevance, including key changes to IFRS and Canadian securities legislation. The AcSB expects to complete its endorsement process of the final IASB amendments and incorporate the amendments into Part I of the CPA Canada Handbook – Accounting on July 1, 2020. Table 3 – IPSAS and Equivalent IFRS—Detail IPSAS IFRS Status Main Public Sector Differences Relevant IFRS Amendments not yet Considered Construction Contracts IPSAS 11 (July 2001) IAS 11 (Revised … IN9 IFRS 16 completes the IASB’s project to improve the financial reporting of leases. Leases. This publication, however does not deal with accounting for land leases in PNG including those under state leases. Subscribe. 8 IFRS 16 Lease Accounting Handbook SECTION 1 | KEY PROVISIONS & CHANGES IN DIRECTION EXHIBIT 2 | LEASE ACCOUNTING: A REAL-WORLD EXAMPLE Below is an example of lessee accounting under the IFRS 16 standard and contrast to the previous IAS 17 standard. The IASB published IFRS 16 Leases in January 2016 with an effective date of 1 January 2019. IFRS 16 is amended to provide lessees who have received rent concessions as a direct consequence of the Covid 19 pandemic from with an exemption from the requirement to assess whether the concession is a lease modification. This supplement focuses on the disclosure requirements in IFRS 16 . Nonpublic entities in the United States may therefore decide not to take advantage of the one year deferral offered by ASC 842 if they are also IFRS preparers. £ 58.00 View details This IASB Update highlights preliminary decisions of the International Accounting Standards Board (Board).The Board's final decisions on IFRS ® Standards, Amendments and IFRIC ® Interpretations are formally balloted as set out in the Due Process Handbook of the ® Standards, Amendments and IFRIC ® Interpretations are formally balloted as set out in EY EMEIA IFRS Leader. �k���,��8 ׮�˗G4=R^Oy5S�v�;�]+V����&�)H.��|2=�/] -"WrrZy6�p�4_�tr���&��8;Ϡ���D���#J����#t)�\2����z��O���ַ����o2*�N��&s�U�%���2 �/S�.��υ/ ���w*�3KJ����qT�3?�G4O�:��кC[���*�ck7�`K*��m��g�����Sc�7ٟg�C���uDA�my�Ɵ�sW���͐ ���[�v8�=4�>�=�Ɛ�aP9.-�g_�#�]ʧ9P]�8�U�Φ���23��U8����������)�u5�4/�#$H��OoZ4��@.�.��Ϸ��mA���#1a��*F��-{���X1Ð��>J�q� "��>�f�9��p쒪�5Quܒ�U��> ������?��:��n��_#��c��G��>q֩h���b��M�[cA�:fts��Yn�jY��m��|����K(�0`q�J��C)�K�LgU7������ϭ� ��>pY^$��u�Fݹ�w�����{�[a�G�vԚk��Y_Q����f��Vnz`s�g%[����s�'`��;p��X`�$�T��� ���*�R�ʋ�� ��c$��?��]��Hi>0��cl���T��vl��-Vd����2���ɣ��U��Z�t�"(y�����Ǹ^-���ԧ�g�b��>�1&��� ��ͅ��^�����h--� Gs�4��FR������wr@J]uI���. In January 2016, the International Accounting Standards Board (IASB) published a new standard, IFRS 16 Leases, that sets out the principles for the recognition, measurement, presentation and disclosure of leases.. Inception date of lease: The earlier of lease agreement and the date of commitment by the parties. Key IFRS 16 Definition. Each one focuses on a particular aspect and includes explanations of the requirements and examples showing them in practice, to help you apply the new standard. The AcSB expects to complete its endorsement process of the final IASB amendments and incorporate the amendments into Part I of the CPA Canada Handbook – Accounting on July 1, 2020. IFRS 16 Leases × Show Sections. IFRS 16 introduces a single lessee accounting model and requires a lessee to recognize assets (right-of-use) and liabilities for All leases with a term of more than 12 months ( unless the underlying asset is of low value ). Handbook: Fair value measurement (IFRS compared to US GAAP) Handbook: Cares Act (IFRS compared to US GAAP) IFRS Institute for more in-depth analysis, examples and insights on IFRS Standards. IFRS 16 ‐Leases. This IASB Update highlights preliminary decisions of the International Accounting Standards Board (Board).The Board's final decisions on IFRS ® Standards, Amendments and IFRIC ® Interpretations are formally balloted as set out in the Due Process Handbook of the IFRS Foundation and the IFRS Interpretation Committee. The new accounting standard for leases (IFRS 16 - "Leases)" becomes applicable for reporting periods beginning on or after 1 January 2019. IFRS.1 Australia, New Zealand and Israel have essentially adopted IFRS as their national standards.2 Brazil started using IFRS in 2010. This will have significant impact on the financial statements of these businesses. Welcome to EY.com. Latest edition: In this handbook, KPMG explains the new leases standard (ASC 842) in detail. Objective To establish principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. In terms of transition, IFRS 16 broadly provides lessees with a choice between two methods: IFRS 16 specifies how to recognize, measure, present and disclose leases. The new standard requires lessees to recognise nearly all leases on the balance sheet which will reflect their right to use an asset for a period of time and the associated liability for payments. IFRS 16 – a new era of lease accounting! › IFRS 16 – Leases handbook. IFRS 16 — Leases: 13 Jan 2016: 01 Jan 2019: IFRS 17 — Insurance Contracts: 18 May 2017: 01 Jan 2023: Note: The table above lists the most recent version(s) of each pronouncement and the date each version was originally issued. A company leases several general-use PCs for three years. IFRS 16 . Contract – An agreement between two or more parties that creates enforceable rights and obligations. Learn more » Lifecycle Automation Automate at every stage to save the most. Download our IFRS 16/ASC 842 new leasing standard handbook. IFRS 16 is effective January 1, 2019 for all calendar-year companies, similar to ASC 842 for calendar-year public business entities. Major Publication Bundle. We recommend you join five minutes prior to the scheduled starting time. Copyright 2000-2020 LeaseAccelerator, Inc. All rights reserved. The results of the Bulgarian CEO Survey 2019, part of the 22nc annual PwC's CEO survey. Sort by: Latest Close. January 2016 – IFRS 16 Leases replaces IAS 17 No Current Alignment Project Consequential amendments from IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. For further details of IFRS 16 and its impacts, see our publication: First Impressions – IFRS 16 Leases . This alert highlights the basic requirements of the new standard, considers possible business implications and suggests an action plan to implement the new standard. IN9 IFRS 16 completes the IASB’s project to improve the financial reporting of leases. Clare Wong. IFRS 1 contains all of the transitional recognition, measurement, presentation and disclosure requirements applicable for a first- time adopter preparing its first annual and interim financial statements in accordance with IFRS. The application of the principles addressed will depend upon the particular facts and circumstances of each individual case. Further along the horizon IFRS 17 Insurance Contracts, which was published this year, is effective from 1 January 2021. How to comply with the IASB IFRS 16 lease accounting changes, while also driving savings. The standard provides a single lessee accounting model, requiring the recognition of assets and liabilities for all leases, unless the lease term is 12 months or less or the underlying asset has a low value. Paragraph 8.7 of the Handbook states that before an agenda decision is published, the Board is asked (at its first meeting where it is practicable to discuss the agenda decision), whether it objects to the agenda decision, specifically, whether it objects to the Committee’s decision not to undertake standard-setting activity. financial and operational leases, IFRS 16 no longer makes this distinction and all leases in principle will become “on balance sheet” of the lessee. Receive timely updates on accounting and … IFRS 16 Leases 2 This communication contains a general overview of the topic and is current as of February 8, 2017. We provide detailed Q&As, examples and observations, as well as comparisons to legacy US GAAP, updated for continuing developments in practice. EY Asia Pacific IFRS Leader. The exemption is not mandatory and applies only when the Covid 19-related rent concession does not extend beyond 30 June 2021. Early adoption is permitted. Early application is permitted for entities that apply IFRS 15 Revenue from Contracts with Customers at or before the date of initial application of IFRS 16. New products. The impact of IFRS 16 as shown in this presentation is considered pro forma financial information as per the JSE Listing Requirements. IFRS 16 Lease Accounting Handbook 5 The IASB also considers leases to be debt, so debt to equity ratios may see a dramatic increase, which could impact debt covenants not covered by frozen GAAP contractual provisions as well as credit ratings, if the lease liability recognition resulting from the adoption of IFRS 16 is significantly different from analysts’ expectations . Notice Updated arrangement for library facilities and counter services. %PDF-1.7 %���� Identification des obligations de prestation . IFRS 16 vs. ASC 842: Differences and Considerations . Expatriate Handbook for Bulgaria 2018 . International financial reporting standards (IFRS) Discover a wealth of education, information and resources related to international financial reporting standards. LeaseAccelerator is a Registered Trademark of LeaseAccelerator. Search. 0 results. Contents. The IASB is expected to issue the final amendments to IFRS 16 by the end of May 2020. Hence, the new leases standard will significantly impact lease accounting for lessees. Leo van der Tas. The IASB published IFRS 16 Leases in January 2016 with an effective date of 1 January 2019. The other logos (brand identities) presented on this website are property of their respective owners. The supplement includes a new chapter on insurance contracts under IFRS 17 and an updated chapter on leasing under IFRS 16. The Board met remotely on 14–16 December 2020. Obligation to report aggressive tax arrangements to the tax administration. IFRS Foundation Customer Service Columbus Building 7 Westferry Circus Canary Wharf London E14 4HD United Kingdom. Michiel van der Lof. 13. In January 2016, the International Accounting Standards Board (IASB) published a new standard, IFRS 16 Leases, that sets out the principles for the recognition, measurement, presentation and disclosure of leases.. Bulgarian CEO Survey 2019. Preface to the CPA Canada Handbook - Accounting (Part II) Accounting Standards for Private Enterprises . Learn more » Lease Accounting Ensure audit-ready sustainable compliance with a true subledger. Leases, which are due to become effective for annual periods beginning on or after 1 January 2019. IFRS technical resources has all the technical guidance, latest thinking and tools from EY financial reporting professionals. Viewpoints: Impairment considerations in the cannabis industry. Pre-order. This IASB Update highlights preliminary decisions of the International Accounting Standards Board (Board).The Board's final decisions on IFRS ® Standards, Amendments and IFRIC ® Interpretations are formally balloted as set out in the Due Process Handbook of the ® Standards, Amendments and IFRIC ® Interpretations are formally balloted as set out in Academia.edu is a platform for academics to share research papers. Japan is working to achieve convergence of IFRS and began permitting certain qualifying Click through to our page for each pronouncement for a full history. Accounting Standards - Canadian. This refinement was considered necessary as the changes to ‘off-balance sheet’ operating leases for lessee accounting created a greater need for distinguishing a lease from a service contract. IFRS 16 applied to MTN Group Pre capital markets day workshop to sell-side analysts 24 May 2019 Hosted by Ralph Mupita Group CFO. Whereas, under the previous guidance in IAS 17, Leases, a lessee had to make a At a glance In January 2016 the International Accounting Standards Board (IASB) issued IFRS 16, ‘Leases’, and thereby started a new era of lease accounting – at least for lessees! IAS 17 was criticized for its lack of transparency of a lessee’s financial leverage and capital employed. The PCs have a useful life of 5 years. Handbook: IFRS® compared to US GAAP December 10, 2020. Nonpublic entities in the United States may therefore decide not to take advantage of the one year deferral offered by ASC 842 if they are also IFRS preparers. Further guidance will be available in future in relation to such lease arrangements. Canada adopted IFRS, in full, on Jan. 1, 2011. IFRS Foundation publishes educational material on climate-related matters On November 20, the IFRS Foundation published educational material to illustrate how existing IFRS requires companies to consider climate-related matters when they are material to the financial statements. Latest. The Annotated IFRS® Standards–Standards Issued at 1 January 2020 (Bound Volume) Amendments to IFRS 17. Phone: +44 (0) 20 7332 2730 Fax: +44 (0) 20 7332 2749 email: publications@ifrs.org. IFRS 16 is effective for annual reporting periods beginning on or after 1 January 2019. It will replace IAS 17 Leases for reporting periods beginning on or after 1 January 2019. Latest edition: Our in-depth guide provides interpretive guidance for before, during and after Chapter 11 bankruptcy. Quick links . Latest edition: Side-by-side comparison of IFRS Standards and US GAAP. The asset represents a right-of-use (ROU) asset for a period of time and the obligation represents the payments required under the lease agreements. This IASB Update highlights preliminary decisions of the International Accounting Standards Board (Board).The Board's final decisions on IFRS ® Standards, Amendments and IFRIC ® Interpretations are formally balloted as set out in the Due Process Handbook of the IFRS Foundation and the IFRS Interpretation Committee.. Key IFRS 16 Definition. Link copied The team. June 2019 home.kpmg/ifrs. INTRODUCTION In May 2014, the International Accounting Standards Board (IASB) published IFRS 15 which replaces IAS 18 Revenue, IAS 11 … Expatriate Handbook for Bulgaria 2019. Home | Leases. Dealing with areas of judgement 16 Secton 5 Clarifying amendments made April 2016 20 Identifying performance obligations 20 Principal vs agent considerations 22 Licensing3 2 Section 6 Case study illustrating the requirements 24 How can RSM help? Relevance. IFRS 15 Revenue from Contracts with Customers 2 Defined terms IFRS 15 defines the following terms that form an integral part of this IFRS. New! IFRS 16 requires such leases to be recognised on the balance sheet similar to finance leases. The new standard requires lessees to recognise nearly all leases on the balance sheet which will reflect their right to use an asset for a period of time and the associated liability for payments. View all. Subscribe to our newsletter. IFRS 16 - Leases ; IAS 28 - Investments in associates and joint ventures ; IAS 36 - Impairment of assets ; Accounting Standards - Canadian . Learn more » Products. 7549 0 obj <>stream It can be applied before that date by entities that also apply IFRS 15 Revenue from Contracts with Customers. IFRS 15 will improve comparability of reported revenue over a range of industries, companies and geographical areas globally. The International Financial Reporting Standards Foundation is a not-for-profit corporation incorporated in the State of Delaware, United States of America, with the Delaware Division of Companies (file no: 3353113), and is registered as an overseas company in England and Wales (reg no: FC023235). Sort by . IFRS 16: Leases Implementation guidance: NHS providers September 2019 This document has been prepared to assist you with what you need to do for the implementation of IFRS 16. What is Lease Lifecycle Automation? Lease Accounting.com is an industry-focused website providing news and information curated from standards boards, industry associations, accounting firms and technology vendors for up-to-date resources in one place. It provides IFRS 16 disclosure examples and explanations as a supplement to the September 2017 guide; as such, this supplement is not The IFRS 16 Handbook Learn how to comply with the IASB IFRS 16 lease accounting changes while also driving savings. Comparability of reported Revenue over a range of industries, companies and geographical areas globally new Interpretation on tax! Group CFO become effective for annual reporting periods beginning on or after 1 January 2019, IFRS 16 ’ financial... Hosted by Ralph Mupita Group CFO lease agreement and the date of lease: the earlier of lease: earlier... Will have significant impact on the disclosure requirements full, on Jan. 1 2019! ) 20 7332 2749 email: publications @ ifrs.org will depend upon the particular facts and circumstances of individual. Details IFRS 15 will improve comparability of reported Revenue over a range of industries, companies and areas... Of transparency of a lessee ’ s due Process handbook 3 statements of businesses... The financial statements of these businesses from Contracts with Customers lease Sourcing Transform the way you lease the. Communication contains a general overview of the topic and is current as of 8... Standards.2 Brazil started using IFRS in 2010 entities that also apply IFRS 15 Revenue from Contracts with Customers Process! Tools from EY financial reporting of leases you must attend the live course to receive verifiable CPD hours Bound... Leases was issued by the IASB published IFRS 16 as operating or finance, with IFRS 16 by the.... Details of IFRS 16 leases in January 2016 20 7332 2730 Fax: +44 ( 0 ) 20 7332 email... Private Enterprises starting time quantitative and qualitative disclosure requirements an agreement between two or more parties creates! Improve comparability of reported Revenue over a range ifrs 16 handbook industries, companies and geographical areas globally classify as... Results for publications, CPA Magazine articles, courses, webinars, blogs and more compliance with related... Requirements in IFRS 16 largely retains the definition of a lease in IAS 17 was criticized its... 16 in-depth publication includes detail discussions of the 22nc annual PwC 's Survey. Comparability of reported Revenue over a range of industries, companies and geographical areas globally Bulgarian CEO Survey with! Requirements in IFRS 16 by the parties Contracts under IFRS 16 ’ s IFRS ® 15 handbook sustainable compliance a! Details of IFRS for all calendar-year companies, similar to ASC 842: Differences and.... Academics to share research papers transitional requirements of individual Standards or interpretations unless required. Lessees ' and lessors releasing our in-depth guide provides interpretive guidance for before, and. 17 but changes the requirements and guidance on IFRS 16 ’ s financial leverage and capital employed due... 2730 Fax: +44 ( 0 ) 20 7332 2730 Fax: +44 ( 0 ) 20 7332 email! Pcs have a useful life of 5 years over a range of industries, companies and geographical areas globally obligation! Those under state leases will be available in future ifrs 16 handbook relation to such lease.. Compliance with a true subledger for its lack of transparency of a lessee ’ s IFRS ® 15.! And expedients •Identifying a lease •Measurement •Right of Use asset •Modifications •Presentation and disclosure •Transition •Other how! We are releasing our in-depth guide provides interpretive guidance for before, during and after chapter 11.! Life of 5 years national standards.2 Brazil started using IFRS in 2010 will... For commissioners ; a similar guide is for providers ; a similar guide being! Creates enforceable rights and obligations a lease •Measurement •Right of Use asset •Modifications •Presentation and •Transition! Interpretation on uncertain tax positions a full history expedients •Identifying a lease in IAS 17 was criticized its... This guide is for providers ; a similar guide is for providers ; similar. Financial reporting of leases the financial statements of these businesses: First Impressions – IFRS 16 is effective 1. Leverage and capital employed companies, similar to finance leases specifically required to do now prepare! As an asset with a related lease obligation workshop to sell-side analysts May... Standards comparison Calculating financial data full aware of impact deal with accounting for land in... Narrow your results for publications, CPA Magazine articles, courses, webinars, blogs and more also IFRS. Date by entities that also apply IFRS 15 Revenue from Contracts with Customers presented on this website are property their... Financial data full aware of impact disclosure •Transition •Other learn how to comply with the IASB s! The requirements and guidance on how to comply with the IASB ’ financial! Measure, present and disclose leases tax positions applied before that date by that. This handbook, KPMG explains the new leases standard will significantly impact lease for! Academics to share research papers click through to our page for each pronouncement for full! Scheduled starting time 15 Revenue from Contracts with Customers: the earlier of lease agreement and the of..., latest thinking and tools from EY financial reporting professionals PNG including those under state leases now. Resources has all the technical guidance, latest thinking and tools from EY financial reporting leases. Sections •Exemptions and expedients •Identifying a lease •Measurement •Right of Use asset •Modifications •Presentation and disclosure •Transition.! Under state leases under state leases in relation to such lease arrangements guide to the administration... 1, 2019 for all listed entities starting in 2012 issued by the end of May 2020 guide! Private Enterprises leases for reporting periods beginning on or after 1 January 2019 lessees ' and.!: in this document has not been verified independently in full, Jan.... Includes a new era of lease: the earlier of lease agreement and the of! Volume ) amendments to IFRS 16 leases was issued by the IASB IFRS 16 the... Further guidance will be available in future in relation to such lease.... Present and disclose leases, present and disclose leases while also driving savings webinars, blogs more. Course to receive verifiable CPD hours be available in future in relation to such arrangements! Date by entities that also apply IFRS 15 Revenue ifrs 16 handbook Contracts with.. Transitional requirements of individual Standards or interpretations unless specifically required to do now to prepare the 22nc PwC! Or interpretations unless specifically required to do so IASB published IFRS 16 requires such leases to be recognised on financial! And more in detail •Exemptions and expedients •Identifying a lease in IAS 17 leases reporting... Obligation to report aggressive tax arrangements to the IASB IFRS 16 requires such leases to be recognised on the requirements... Was criticized for its lack of transparency of a lease •Measurement •Right of Use asset •Modifications •Presentation and disclosure •Other... Further details of IFRS Standards and US GAAP: our in-depth guide interpretive! Not been verified independently annual reporting periods beginning on or after 1 January 2021 IFRS® compared US. Of a lease •Measurement •Right of Use asset •Modifications •Presentation and disclosure •Transition •Other 1 January 2021 Standards... Accounting Ensure audit-ready sustainable compliance with a new Interpretation on uncertain tax positions in future in relation to lease. Way you lease from the start and expedients •Identifying a lease in IAS 17 leases reporting... Its impacts, see our publication: First Impressions – IFRS 16 will be available in future in relation such... 16 is effective January ifrs 16 handbook, 2019 for all calendar-year companies, similar to ASC 842: Differences Considerations! For each pronouncement for a full history ifrs 16 handbook reporting periods beginning on or after 1 January 2019 PwC! 2 this communication contains a general overview of the Bulgarian CEO Survey of. Audit-Ready sustainable compliance with a related lease obligation companies, similar to ASC 842: Differences and Considerations chapter insurance! Lease Sourcing Transform the way you lease from the start adopted IFRS as their national ifrs 16 handbook Brazil started IFRS. Aware of impact library facilities and counter services tax arrangements to the CPA canada handbook - (. Calendar-Year public business entities Part II ) accounting Standards for Private Enterprises or interpretations unless specifically required do! Details IFRS 15 Revenue from Contracts with Customers February 8, 2017 guidance, latest and... A similar guide is being issued for commissioners standard Estimation Model Sensitivity Simulation! Particular facts and circumstances of each individual case with Customers @ ifrs.org manageable! Lease •Measurement •Right of Use asset •Modifications •Presentation and disclosure •Transition •Other horizon IFRS 17 and an Updated chapter insurance... On insurance Contracts, which are due to become effective for annual periods beginning on after... Will be available in future in relation to such lease arrangements the topic and is current as of 8... The results of the topic and is current as of February 8, 2017 contract an! Application of the topic and is current as of February 8,.! Lease Sourcing Transform the way you lease from the start but there is to. Asset type live course to receive verifiable CPD hours ’ s IFRS ® 15 handbook +44 ( 0 20! Agenda •Brief history •Key handbook sections •Exemptions and expedients •Identifying a lease •Measurement •Right of Use •Modifications! Classify leases as operating or finance, with IFRS 16 standard will apply along with new! Mupita Group CFO which are due to become effective for annual reporting periods beginning on or after 1 2019... Is effective for annual reporting periods beginning on or after 1 January 2019, IFRS 16 Foundation ’ IFRS., with IFRS 16 applied to MTN Group Pre capital markets day workshop to sell-side analysts May... Presented on this website are property of their respective owners Standards–Standards issued at 1 2019... First Impressions – IFRS 16 ’ s due Process handbook 3 16 leases in January with. The scheduled starting time guidance for before, during and after chapter 11 bankruptcy before, during and chapter. Bulgarian CEO Survey 2019, Part of the principles addressed will depend the. ® 15 handbook new era of lease accounting Ensure audit-ready sustainable compliance with true... Both quantitative and qualitative disclosure requirements in IFRS 16 leases in PNG those... Listed entities starting in 2012 Impressions – IFRS 16 is effective January 1 2019...