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Companies sweat data details more than IT under new lease rules

Tammy Whitehouse | June 7, 2016

Preparers seem more concerned about how they will gather and manage the data they need to comply with new lease accounting rules than they are about new IT system needs, according to a recent Deloitte poll.

In a webcast on the new lease accounting rules issued in February by the Financial Accounting Standards Board, 33 percent of the more than 5,400 participants said they expect the biggest challenge over the next 12 months will be collecting the necessary data from throughout the organization and assembling it into a centralized, electronic inventory.

Another 20 percent said they expect their biggest worries around developing and instituting processes to evaluate...

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