Automated AASB 16 lease accounting you can rely on

AASB 16 is the Australian Accounting Standards Board's lease accounting standard, effective for annual periods beginning on or after 1 January 2019. It requires Australian for-profit entities to recognise most leases on the balance sheet as a right-of-use asset and corresponding lease liability. The approach is substantively identical to IFRS 16, with the same calculation mechanics and disclosure requirements.

Learn more in our guide: AASB 16 compliance self-assessment guide.

AASB 16 is mandatory for all Australian for-profit entities that prepare general purpose financial statements under Australian Accounting Standards. This includes ASX-listed companies, large proprietary companies, and other entities subject to statutory reporting requirements. Not-for-profit and public sector entities operate under AASB 16 on modified terms set out in AASB 16 itself.

Yes. LOIS automates the full AASB 16 compliance process: right-of-use asset recognition, lease liability amortisation, depreciation and interest schedules, CPI remeasurements, and disclosure reporting. The platform generates locked journals for GL posting, maintains a complete audit trail for every modification, and produces the disclosure reports your auditors require. Our lease accounting module supports AASB 16, IFRS 16, FRS 102, and FASB ASC 842 within a single platform.

AASB 16 and IFRS 16 are substantively identical. Both require on-balance-sheet lease accounting using the right-of-use asset model, and the calculation mechanics are the same. The key difference is jurisdiction: AASB 16 is issued by the Australian Accounting Standards Board and applies to Australian entities, while IFRS 16 is issued by the IASB and applies to entities reporting under international standards. LOIS's global IFRS 16 track record applies directly to AASB 16 compliance.

Every extension, early termination, rent review, or scope change under AASB 16 triggers a remeasurement that updates the right-of-use asset and lease liability. LOIS handles each modification automatically: recalculating schedules, generating updated journals with the correct effective date, and recording a timestamped audit trail for every change made. No manual recalculation required.

Yes. LOIS offers a managed service that combines the LOIS platform with CA-qualified lease accounting experts who validate your data, run your AASB 16 calculations, prepare journals ready for posting, and deliver audit-ready reporting packs each period. Available for Australian organisations that want the compliance outcome without the internal overhead of managing it themselves.

Yes. LOIS is a total tenant lease platform that manages property leases, fleet, mining equipment, and other asset classes within a single system. For Australian organisations with large vehicle or equipment fleets, including mining, logistics, and government, the LOIS fleet module automates bulk data uploads from any lease provider and cross-checks each record against your existing portfolio.

LOIS is built and supported by CA-qualified accountants who understand AASB 16 in practice, not just in principle. The platform unifies lease accounting, property management, and fleet management in a single system, eliminating the data handoffs and reconciliation gaps that create audit risk. It scales from 30 leases to over 10,000, is ISAE 3402 assured, and includes built-in GL integration so the subledger and your accounts agree automatically. Australian clients including InfraBuild, Canon Australia, NRMA, and Tassal rely on LOIS.