Triniti helped multiple entities in the middle east transition from IAS 17 to IFRS16. For lessees, the changes introduced by IFRS 16 are significant with the requirement to bring all leases onto the balance sheet. Though IFRS16 coverage is far and wide, and some aspects of application require the exercise of judgment, this blog serves as a quick reference on how to account for the ‘right of use’ asset and the related lease liability. Read more to uncover the details.

During multiple implementations of our TRI² Application Lifecycle Change Management (AOM), we initially observed limited participation from business users, as the tool was perceived to be IT-centric. After following the usage trends and increased involvement of business teams in change management activities, we see that the benefits are being reaped across groups and are not limited to developers and application administrators. Let us look at the not-so-obvious benefits that the organizations have realized as they started using the application.