Audit & Assurance Services

IFRS 16 Leases

advisory/ implementation

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.

We can assist you with the following:

Advisory services

  • Identifying lease agreements in accordance with new requirements
  • Assessing your readiness to transition from methodology, IT and resources perspective
  • Assessing the completeness and quality of the information available.
  • Assessing the impact of the standard on the financial statements


  • Assessing the existing business process including risks and controls, and leased property management
  • Developing target business process models and roadmaps to achieve those
  • Developing efficient controls for lease accounting
  • Making necessary changes to the accounting systems helping you to select best option for the transition to the new standard

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our office address

The Alchamii Auditing of Accounts, 965D, Tamani Arts Offices, Business Bay, Dubai, UAE.



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