IFRS 16 Health Check LOIS

Section 1 of 5

Lease Inventory Awareness

Understanding what you hold is the foundation of IFRS 16 and FRS 102 compliance. Many organisations undercount their leases.

Q1. How many leases does your organisation currently hold (property, equipment, fleet, IT)?

Fewer than 30 leasesLow complexity 30 – 200 leasesModerate complexity 200+ leasesHigher complexity

Q2. Do you have a centralised, up-to-date register of all lease agreements?

Yes fully maintained and current Partially some leases may be missing No we rely on scattered records

Q3. Have you reviewed service contracts for embedded leases that should be recognised under IFRS 16 or FRS 102?

Embedded leases in service contracts are one of the most commonly missed compliance items under IFRS 16 and FRS 102.

Yes reviewed and confirmed Partially reviewed No not yet reviewed

Q4. Do you have automated alerts for lease expiries, renewals, and break options?

Yes automated alerts in place Manual calendar reminders only No we rely on memory or chance

Section 1 of 5 Lease Inventory

Section 2 of 5

Current Accounting Method

Spreadsheet-based lease accounting introduces calculation errors, missed modifications, and IBR inconsistencies under both IFRS 16 and FRS 102.

Q5. How do you currently manage your lease accounting calculations?

Dedicated lease accounting software (e.g. LOIS) Spreadsheets (Excel or Google Sheets) Manual / ad hoc process

Q6. How confident are you that incremental borrowing rates (IBR) are applied correctly and consistently across all leases?

Very confident documented and consistent Somewhat confident varies by lease Not confident inconsistently applied

Q7. Are lease modifications (renewals, terminations, amendments) tracked and the lease liability re-measured?

Always process is documented and followed Sometimes ad hoc when noticed Rarely or never

Q8. Are CPI/index-linked payment changes being captured and updated in your lease liability calculations?

Failure to update index-linked payments (e.g. annual CPI rent reviews) is a frequent audit finding.

Yes captured and updated systematically Sometimes only for major leases No not consistently tracked

Section 3 of 5

Financial Reporting Accuracy

Disclosure completeness and balance sheet presentation are primary areas of auditor scrutiny under IFRS 16 and FRS 102.

Q9. Are Right-of-Use (ROU) assets and lease liabilities presented separately on your balance sheet?

Yes separately disclosed Combined with other asset categories Unsure / not reviewed recently

Q10. Does your IFRS 16 or FRS 102 disclosure include a full maturity analysis of lease liabilities?

Yes full maturity table included Partial not all leases included No not currently included

Q11. How long does it take your team to produce end-of-period lease accounting journals?

Less than 1 day automated or near-automated 1–3 days of manual work 1 week or more

Q12. Have your lease calculations been independently reviewed or audited in the last 12 months?

Yes reviewed and confirmed accurate Reviewed but findings not fully addressed No not reviewed in the past 12 months

Q13. How do you find the timeliness of receiving lease information and your system's ability to update?

Not an issue information is received promptly and the system updates efficiently Not timely, but the system can handle updates once received Not timely and requires significant rework to update the system

Section 4 of 5

Team & Process Readiness

IFRS 16 and FRS 102 sit at the intersection of Finance and Property. Misalignment between teams creates dangerous compliance gaps.

Q14. Do your Finance and Property/Operations teams actively collaborate on lease data and reporting?

Yes shared processes and regular communication Occasionally at period-end only No teams work independently

Q15. Is there a clearly defined owner of IFRS 16 and FRS 102 compliance in your organisation?

Yes named owner with documented responsibilities Informal shared between team members No clear owner

Q16. Has your team received training on IFRS 16 and FRS 102 requirements and any recent standard amendments?

Yes trained and up to date Initial training only not updated since adoption No formal training received

Q17. Which accounting standard applies to your organisation?

IFRS 16 (international) AASB 16 (Australia) FRS 102 (UK) Multiple standards

Section 5 of 5

Strategic Readiness & Your Details

Two final questions, then enter your details to receive your personalised IFRS 16 and FRS 102 compliance report by email.

Q18. Are you planning to acquire new leases or expand operations in the next 12 months?

Yes growth or expansion expected No significant changes expected Unsure at this stage

Q19. Have you assessed the impact of your lease portfolio on key financial ratios (gearing, EBITDA, net assets)?

Yes assessed and communicated to stakeholders Partially some ratios reviewed No not yet assessed

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Lease Inventory Awareness

Current Accounting Method

Financial Reporting Accuracy

Team & Process Readiness

Strategic Readiness & Your Details