Policy paper

Post Implementation Review of IFRS 16

This thematic review is a post implementation review focusing on the way IFRS 16 was implemented in central government

• From: HM Treasury
• Published: 8 July 2025

Documents

Post Implementation Review of IFRS 16

PDF, 486 KB, 16 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

IFRS 16 - Leases was implemented in the public sector from 1 April 2022. Implementation has been a major reporting challenge for the whole of the public sector.

This thematic review examines the implementation process for lessons applicable to introducing future standards and considers the views of preparers and users of annual reports and accounts, as well as HMT’s Financial Reporting Advisory Board.

Guidance on government financial reporting is published in the Government Financial Reporting Manual (FReM) which is updated for every financial year.

The Treasury also publishes application guidance providing further support on specific accounting standards. The IFRS 16 application guidance and supplementary budgeting guidance forms part of this collection.

Published 8 July 2025