IFRS 16 standard compliance
Rotork has a lease portfolio consisting of approximately 500 leases spread over a number of companies globally. Although initial modelling showed that the transition to IFRS 16 would not have a significant impact on the financial statements, the complex nature of the calculations and need to set up and maintain a central lease database meant it would be beneficial to manage the accounting and reporting using a software solution.
- Finding a software meeting IFRS16 standard
500 Lease Contracts
The solution is intuitive to use and the WebEx training given after implementation was thorough. The Viareport consultants on our project were knowledgeable and responded to our queries quickly, in fact communication with all members of the Viareport team was excellent. The performance of the Lease solution has met all our expectations and proved successful in meeting our half year reporting requirements.