IFRS16 and the challenge of foreign currencies

With the introduction of IFRS16 - Leases, issued by the International Accounting Standards Board (IASB), operating leases will be included in the balance sheet no later than January 1, 2019. The dilemma for institutions with operating leases in foreign currencies is to reconsider the currency risks as a result of the new accounting requirements.

IFRS16 and the challenge of foreign currencies

Oct 31, 2018

With the introduction of IFRS16 - Leases, issued by the International Accounting Standards Board (IASB), operating leases will be included in the balance sheet no later than January 1, 2019. The dilemma for institutions with operating leases in foreign currencies is to reconsider the currency risks as a result of the new accounting requirements.

Finance industry responds to UK budget statement 2018

The UK’s Chancellor of the Exchequer Philip Hammond has presented his annual budget statement, the final overview of the country’s finances before it leaves the European Union. In response, industry leaders have provided their view on the most important announcements from this year’s statement.

Finance industry responds to UK budget statement 2018

Oct 30, 2018

The UK’s Chancellor of the Exchequer Philip Hammond has presented his annual budget statement, the final overview of the country’s finances before it leaves the European Union. In response, industry leaders have provided their view on the most important announcements from this year’s statement.

UK budget: Chancellor’s statement brings ‘adverse developments’ for asset finance

The annual budget statement from UK Chancellor of the Exchequer Philip Hammond will bring some net easing of the UK tax burden in the coming year or so, but with some tax increases taking effect later, and a few distinctly adverse developments for asset finance.

UK budget: Chancellor’s statement brings ‘adverse developments’ for asset finance

Oct 30, 2018

The annual budget statement from UK Chancellor of the Exchequer Philip Hammond will bring some net easing of the UK tax burden in the coming year or so, but with some tax increases taking effect later, and a few distinctly adverse developments for asset finance.

Lease accounting

Leaseurope workshop to explore impact of IFRS 9 on European leasing industry

Jun 05, 2018

In all the furore over the new IFRS 16 rules for lease accounting, another important new accounting standard that could have a significant impact on the European leasing industry has slipped in relatively quietly. For lessors using international accounting standards, IFRS 9 can lead to big changes to reporting of loan impairments and defaults. It can also create a need for a lot of extra data to support the accounting estimates made, particularly for non-banks and banks using the standardised approach for their capital requirements calculations. As implementation of IFRS 9 is now underway, Leaseurope’s next event in its programme of regulatory workshops will be a review of emerging impacts and issues on specialist lenders, including leasing and consumer credit firms.

BREXIT

Negotiators struggle to build bridges as Brexit looms

Nov 10, 2017

While business leaders in the UK and Europe have stressed the importance of a smooth Brexit transition to protect the economies of both sides, there are signs that negotiators are struggling to find common ground on key issues. As the Brexit deadline of March 28, 2019 approaches, this special report looks in detail at progress from both sides of the negotiating table.

 

General legal and regulatory

Anti-money laundering – blind justice or justice that turns a blind eye?

May 10, 2018

International efforts to combat money laundering, which latterly have been closely connected with frustrating tax evasion, aggressive tax avoidance and to staunch the supply of money to terrorist organisations, have been coordinated by the Financial Action Taskforce. They have resulted in various FATF Recommendations and Special Recommendations. This body of knowledge as to how to run a regime for anti-money laundering/countering the finance of terrorism (AML/CFT) has firstly been converted into law, for example via the EU Anti-Money Laundering Directives and its subsequent transposition into EU Member State law, an example of the latter being the UK’s 2017 Money Laundering Regulations.