Easier IFRS 16 Compliance
Now that it’s been a couple of years into the IFRS16 lease accounting standard, organisations can appreciate that the complexity around compliance has only increased with time. Although spreadsheets provided a short-term solution, they don’t provide an audit trail, the risk of errors is too high, and they don’t help with ongoing lease management! The ‘spreadsheets are free’ sentiment evaporates when the true costs of managing even a small lease portfolio are considered. That also leaves out the less tangible costs like the workload and morale of your accounting staff.
In our recent webinar series, we uncovered the key challenges with using spreadsheets to manage a lease portfolio, from data capture inconsistencies, governance concerns, through to poor core accounting treatments. We’ve outlined some of the practicalities of implementing an alternative solution to spreadsheets, and most recently we shared some key considerations for a business case for change and the opportunity cost of not automating these processes.
Next in the series, we are excited to demonstrate how EZLease lease accounting can provide you with a low-cost solution that will save you money and minimise risk.
General Manager APAC,