GAAP Consulting
Date

Thursday 6 November 2025

Time

2:30 pm

Duration

1.5 CPD Hours

Session Topic

AASB 16 Leases – post-implementation challenges and lessons

AASB/ IFRS 16 Leases remains one of the most challenging areas of financial reporting, with recurring issues in recognition, modifications, disclosures, and not-for-profit and public sector applications.

The AASB’s recent post-implementation roundtables confirmed that lease accounting is both complex and costly, with insights drawn from over 100 participants.

We continue to receive many leasing queries and our pre-issuance reviews also highlight shortcomings in financial reporting, with leasing a frequent source of queries and deficiencies.

This session will:

  • Recap the fundamental principles of AASB/IFRS 16 Leases
  • Share lessons learned from implementation
  • Explore issues raised in the post-implementation review
  • Provide examples of key lease calculations
  • Describe the disclosure relationships between the standard, material accounting policy information, judgements, estimates, as well as Tier 2 disclosures
  • Outline what to include in a lease accounting policy position paper, and
  • Discuss major challenges in auditing compliance with the leasing standard.
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This session is presented by:

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Carmen Ridley

Principal | Australian Financial Reporting Solutions

Carmen has an excellent knowledge of financial reporting through significant experience with a number of major accounting firms in both the external audit and technical divisions and spending significant time analysing and interpreting accounting standards for clients.

Carmen is a former Board member of the AASB (2012 – 2020) and a former member of the IFRS for SME implementation committee (2020 – 2023).

Colin Parker

Principal | GAAP Consulting

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.