ASG conducts Executive Briefing on IFRS 16, Leases

As part of SGV’s thought leadership initiatives, the Accounting Standards Group (ASG) conducted an International Financial Reporting Standards (IFRS) Executive Briefing on 10 February 2016 at the Washington SyCip Development Center (WSDC). The Executive Briefing focused on the concepts and principles of IFRS 16, the new leases standard, including a discussion on the potential impact and the tax implications of the new standard.

Close to 100 participants from client companies and regulatory agencies attended the event. Assurance Services Head Wilson Tan formally welcomed the participants to the Executive Briefing. Assurance partners and subject matter resources on Leases Benjie Villacorte and John Villa discussed the basic provisions of the new standard, while Tax Partner Ace Escartin tackled the income tax implications of IFRS 16. The lecture was followed by an open forum. Assurance Partner and EY ASEAN FAAS Leader Bok Malantic concluded the event and thanked all the participants.