Fletcher Building to use LOIS Lease Accounting from Quadrent

Posted by Paula Macris on Jan 24, 2019 11:08:37 AM

Quadrent, a leading lease consultancy and providers of the LOIS SaaS lease accounting platform, is proud to confirm that Fletcher Building (FB), one of New Zealand’s largest companies and a key player in the Australasian building products, construction and manufacturing sectors, has signed to use LOIS for their transition to IFRS 16.

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As a top Australasian business with a diverse portfolio of activities, FB has a complex business process and a large lease portfolio. LOIS will facilitate a simple, practical enablement of a what is a multi-faceted accounting and business process change under IFSR 16.

As an existing supplier but after a thorough selection process, Quadrent intends to leverage its knowledge of both LOIS and the intrinsic FB business to enable an IFRS 16 transition process that is simple, efficient and with minimal impact to the underlying business.

Find out more about LOIS here.

 

Topics: IFRS 16, Leases, LOIS, ifrs 16 implementation, lease accounting software, new accounting standards