• Accounting Alert July 2020

How entities are faring with the adoption of the new lease standard (NZ IFRS 16) so far

BDO’s IFRS Advisory department has published a recent blog on their first-hand observations regarding how entities have fared with the adoption of the new lease accounting standard (NZ IFRS 16) over this first half of 2020.

The blogs author, James Lindsay (Head of BDO IFRS Advisory), highlights a number of the recurring themes they are seeing, and recommendations for management and entities to consider going forward (including links to BDO issued guidance a many of the issues and challenges raised in the blog

With many NZ IFRS reporters with 31 March and 30 June year ends currently in the process (or about to start the process) of adopting NZ IFRS 16, the points raised in the blog represent a good chance for management and entities to step-back and potentially re-focus their NZ IFRS 16 adoption plan.

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