Context and objectives
As part of the transition to the IFRS 16 Leases standard, we supported the Accounting Standards Department in the practical implementation of IFRS 16. This included setting up a tool to calculate the impacts of IFRS 16 for both actual and forecast phases.
Our Mission
Assist the Accounting Standards Department in rolling out IFRS 16.
Coordinate workshops with business units to identify lease contracts within the scope of IFRS 16, analyze their treatment in compliance with IFRS 16, and establish procedures for data collection and upload.
Collaborate with business units to design the format for lease contract data files to be imported into the IFRS 16 calculation tool, prioritizing a practical approach to IFRS 16 implementation.
Set up mapping tables for accounts and flows within the IFRS 16 tool.
Conduct tests on the IFRS 16 tool, focusing on calculations, data uploads, generated IFRS 16 entries, reporting, and export files to accounting ERPs.
Draft documentation related to IFRS 16, the IFRS 16 tool, and applicable procedures for each business unit (contract scope, upload methods, reporting, export of IFRS 16 entries, etc.).
Provide support to business units in gathering information and uploading data into the tool.
Train teams on using the IFRS 16 tool.
Results
The Group successfully transitioned to the IFRS 16 standard and implemented the IFRS 16 tool on schedule. This equipped the Group with an efficient process for tracking and accounting for future lease contracts.
