Mar 06, 2018
Companies face being "overwhelmed" with the requirements of the new IFRS 16 accounting standard unless they launch their preparation strategies now, industry experts have warned. The new standard, IFRS 16 – Leases, was issued by the International Accounting Standards Board (IASB) in 2016 and will become effective in less than a year, on January 1, 2019. The new rules require most operating leases to be recorded on balance sheets, whereas previously only finance leases were recognized. Duff & Phelps, the global valuation and corporate finance advisor, says that for several industries, such as retail, real estate, airline, transport and energy, this could well become one of the most material items on their balance sheets, with a large-scale impact on earnings before interest, taxes, depreciation and amortization (EBITDA).
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.
Mar 19, 2018
The UK’s Financial Conduct Authority is launching a mystery shopping exercise as part of its review of standards in the motor finance industry. The initiative comes as its latest update on the review reveals a broadly positive picture for the market. In the update, the FCA said that although demand for motor finance has grown, this has mainly been strongest for consumers with better credit ratings, who are less likely to face repayment difficulties. It added that arrears and default rates remain generally low, though they have increased moderately in recent years.