Audit & Assurance Services
IFRS 16 Leases advisory/ implementation
A statutory audit is a legally required review of the accuracy of a company’s financial statements and records. The purpose of the statutory audit is to ensure the fairness and credibility of accounting records. It assures the management that their duties as per the applicable statute is performed perfectly. Statutory audit improves the reliability of the published financial statement.
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
Implementation
- 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