5 Years After the Implementation of IFRS 16: How the "New" Leasing Standard Works

2024-12-18

A few years ago, the rules regarding how companies should report their lease agreements changed. Kevin Hall from Tiego and Michael Thorstensson from Deloitte share insights and experiences since the implementation of IFRS 16 Leasing with FAR.

Clothing companies renting their store premises, construction companies leasing excavators, or logistics companies renting airplanes or trucks—examples of leasing abound and span everything from small-scale businesses to large publicly traded corporations.

Since 2019, a new standard for accounting lease agreements has been in effect. IFRS 16 Leasing, which replaced the previous standard IAS 17, applies to all groups using IFRS (International Financial Reporting Standards) as their accounting framework.

Read more about Kevin's reflections here.