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Leases: Are you ready for the sweeping changes?

Leases: Are you ready for the sweeping changes?

In January 2016, the International Accounting Standards Board (IASB) issued IFRS 16 Leases, realising its long-standing goal of bringing leases on-balance sheet for lessees.


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The new standard takes effect in January 2019. Before that, companies will need to gather significant additional data about their leases, and make new estimates and calculations. Are you ready for the sweeping changes?

To help you be ready for the expected changes, KPMG has prepared: 

  • A high-level visual summary of the new standard and
  • A detailed publication (PDF 680KB) with an overview of the standard and how it will affect the financial statements, accompanied with examples and insights to help you assess the potential impact on your business and to assess your readiness for 2019.

We would be delighted to discuss any questions you might have to help you prepare for IFRS 16 Leases.

© 2020 KPMG North Macedonia DOO, a limited liability company registered in the Republic of North Macedonia and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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