AASB 16 Leases applies for 31 December year-ends for the first-time. From an auditing perspective, considerations will need to be given to transition, assertions over transactions during the year and balances at the reporting date. This session will focus on:
- Identifying audit risks arising from AASB 16 Leases
- Changes required to audit planning
- What should be in your audit-requirements letter
- Effect on nature, timing, and extent of audit procedures
- Typical audit procedures, and
- Audit evidence required.