Audit & Assurance Services
IFRS 16 Leases
IFRS 16 Leases was adopted in January 2016 and is mandatory for accounting periods beginning on or after 1 January 2019. This standard may have significant implications because It can materially change the balance sheet and the profit or loss statement. More information will be required than is currently available to many companies. Significant resources and improvements to existing IT systems may be required. Important decisions on a number of standard provisions will have to be made at an early stage.
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The Alchamii Auditing of Accounts, 965D, Tamani Arts Offices, Business Bay, Dubai, UAE.
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