IN continuation of its advocacy efforts, Equipment Leasing Association of Nigeria, ELAN, is organising its first quarterly executive forum for the year.

The forum with the topic, “Understanding and Preparing for IFRS 16” is packaged in line with the association’s aspirations to continually create “face time” for members for effective engagement on issues bordering on the development of the Nigerian leasing industry.

In a statement by the association’s chairman, Board of Directors, ELAN, Olutoyin Okeowo, stated: “It is expedient to bring our members together at this forum, in view of the imminent implementation of the International Financial Reporting Standard, IFRS, 16 on leases, which is expected to take effect January 1, 2019.

“This event is intended, among other things, to further enhance members’ understanding of the new standard and assess the level of preparedness of the leasing industry.”

‘The IFRS 16 was issued in January, 2016 by International Accounting Standard Board, IASB.