Countdown to IFRS 16

Final 90-day lease accounting checklist

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The IFRS 16 Final 90-Day Checklist Includes

Accounting Strategy

Have you finalized all of your accounting policy documents, practical expedient elections and transition strategies?

Test Planning

Have you tested all the variations of lease payments, terms, and clauses most common to your portfolio?

Process Changes

Have you updated your record-to-report, monthly and quarterly close processes?

User Training

Have you trained all the lease administrators and accountants that will be using the system?

Centres of Excellence

Have you fully staffed, trained, and enabled the accountants in your centre of excellence?

Policies and Controls

Have you instituted the new controls needed to satisfy financial audits?

Systems Updates

Have you provisioned user accounts, configured reports, and validated accounting outputs?

Audit Committee

Have you updated the CEO, CFO, and audit committee on risks and issues?

Data Collection

Have you finished cleansing, reconciling, and uploading your leasing data?

Disclosures

Have you identified required disclosures for your annual filings?