TY  - RPRT
AU  - Davern, M
AU  - Gyles, N
AU  - Hanlon, D
AU  - Shah, F
Y2  - 2019/12/22
Y1  - 2019
SN  - 978-0-6482919-8-5
UR  - http://hdl.handle.net/11343/233683
AB  - This is the first report of a project examining the introduction of AASB 16 Leases (AASB 16), the Australian equivalent of IFRS 16 Leases. It reports on a survey that provides a snapshot of the process of implementation of AASB 16 Leases by preparers. A subsequent report, to be released in 2020, will report on an interview-based study of users of financial reports prepared under AASB 16. 

The results indicate that entities have made relatively good progress in implementing the standard, focusing their project structure on existing internal resources. Preparers have faced challenges in implementation, including the need for additional data collection and systems implementation. However, the results suggest that preparers are expecting to see the benefits of adopting the new standard highlighted by the standard-setters, including enhanced comparability and transparency. 

Importantly, the need for recognition of (almost) all leases on the balance sheet is an improvement to the quality of the underlying lease data, and thus the quality of the reported information to users of financial statements. 

This report aims to assist preparers in benchmarking their progress against peers, and for policy makers, including Australian and international standard-setters, to receive feedback as input to the post-implementation review process of AASB 16 and its international equivalent, IFRS 16.
PB  - The University of Melbourne
T1  - Implementing AASB 16 Leases: Are Preparers Ready?
L1  - /bitstream/handle/11343/233683/M%20Davern.pdf?sequence=1&isAllowed=y
L1  - /bitstream/handle/11343/233683/implementing-aasb-16-leases-report.pdf?sequence=3&isAllowed=y
ER  -