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How to Make IFRS 16 Quick, Painless and Strategic at Year-End

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Employee's time is not free

So often human nature is to simply put up with suboptimal systems or processes, as it’s just easier to go with the flow rather than create extra work in the short term to review, assess and implement new options.

This is certainly true in the glamorous realms of IFRS 16 lease accounting, where many finance departments accept their lease accounting solution is not perfect, but they feel they don’t have the time or budget to change it.

However, when the opportunity cost of the days taken to complete their IFRS 16 process every month are factored in, it can quickly be seen it's costing considerable employee time, which is not free!

For this webinar we were joined by:

Pavan Yanamandra from Perenti, one of the world’s largest mining service companies.
Zubair Khan from Vulcan, a leading metals distributor across Australia and New Zealand.

During the webinar they shared some practical tips and examples from the steps they took to transition to a more optimised and streamlined IFRS 16 process using our LOIS lease accounting software.

Below are the main discussion points that we covered:

The current economic environment - 5:31
IFRS 16 process review poll - 12:36
How to review your organisation's IFRS 16 process - 14:16
The types of systems used for lease accounting - 25:08
What areas are overlooked in an IFRS 16 process - 27:14
What does a good IFRS 16 process look like - 37:09
The cost of time poll - 44:27
The benefits of a good IFRS 16 process - 46:24
The use of systems poll - 49:40
What's trending? ESG and AI - 52:20
Key takeaways - 57:29

Complete the form to get sent the recorded version of the webinar and the slides.

(As this webinar is an activity that increases your knowledge, skills and abilities, it can be recognised as CPD hours.)

Guest Speakers

Pavan Yanamandra

Senior Manager Group Finance at Perenti

Pavan leads and manages Perenti's Group accounting and statutory reporting functions, and is responsible for overseeing the preparation of annual and half-year financial statements for the Group and ensuring compliance with relevant AIFRS and listing rules.

Zubair Khan

Commercial Leader, ANZ at Vulcan

Zubair is currently serving as the Commercial Leader at Vulcan, Auckland, New Zealand and was previously at Deloitte NZ. His background in accounting and finance, coupled with his roles in commercial leadership and strategic financial management see him play a significant role in managing Vulcan's financial strategies, process improvement and ensuring compliance with relevant accounting standards.

Facilitators

Damon Kennedy

LOIS Client Success Director at Quadrent

Damon has over 20 years’ commercial leasing experience and has been at the forefront of industry innovations that help businesses deal with IFRS 16 compliance – specifically via LOIS (Quadrent’s IFRS 16 lease accounting SaaS solution).

Stefan Iggo

CFO at Quadrent

Stefan drives the LOIS Team. His experience in assisting clients across a multitude of industries with their transition to IFRS 16 combined with his background in leasing allows him to have a unique perspective on the market.

Stay IFRS Compliant

Our leasing experts and CA qualified accountants assist with all facets of the asset management lifecycle, providing expertise, making leased asset management simple, and in compliance with IFRS 16.