We are at a pivotal point in the lease accounting journey for most organizations, now that the delays in compliance deadlines are over. According to the 2022 Global Lease Accounting Survey conducted by Ernst & Young LLP (EY) and LeaseAccelerator, there is a dramatic increase in the number of private companies who are driving to adopt the standards for the first time, while the US public and IFRS-reporting companies are evaluating their implementations and looking for ways to optimize. Lease accounting integration and governance continue to lag behind the core processes of most finance functions -- even for those who have adopted the lease accounting standards.
EY and LeaseAccelerator industry experts discuss the critical industry benchmark data on how global organizations are managing their leasing and lease accounting processes, ways to address the compliance challenges across ASC 842 and IFRS 16, and actions to take to achieve and optimize long-term compliance.
Learning Objectives:
- Using lease accounting as a catalyst to optimize your leasing process
- Common audit challenges
- Ways to eliminate cost and risk from lease accounting
- Key benchmarks for organizations to use for building improvement plans
- Strategies to ensure the resources and tools for long-term compliance
