A Large Retailer will transition to IFRS 16 in the financial year commencing. Since the company has an extensive property portfolio of leasehold property, both in the UK and overseas, the implementation of the new lease accounting standard will have a significant impact for the Group. A wide-ranging implementation project is currently being undertaken, incorporating; data collection, process and system changes, and development of new accounting policies. Given the scale of the portfolio and time available prior to adoption, a critical work stream in that project is to systematically, efficiently and accurately capture all data points required for adoption of IFRS 16 across the leasehold property portfolio.
This role will initially support the data collection exercise as part of the adoption project. Key accountabilities will include:
- Responsibility for reviewing lease documentation and recording of required data points for adoption of IFRS 16 in a systematic, efficient and accurate manner
- Pro-actively raising queries to resolve issues or missing data with colleagues
- Maintaining and updating a tracker of queries raised to support regular update meetings
- Responding and addressing comments raised upon review by the Finance Manager
- Communicating with team members to ensure lessons learned are shared across the team to drive efficiency in the data capture process
- Supporting the identification and implementation of new IT systems prior to adoption
- Supporting the development and implementation of new processes and controls that are efficient and robust at the point of adoption
- Preparation of materials and involvement in meetings with senior stakeholders and stakeholders from the wider business
The successful candidate will make a critical contribution to ensuring a successful adoption of IFRS 16 in a timely and accurate manner. The outcome of the adoption project, given its significance to the Group, has the attention of key decision makers across the business.
- This role is a great introduction to the business, with the opportunity to develop relationships across the Group and outside of Finance. On completion of the data collection phase of the project, the successful candidate will move within the business into a more traditional Group Accounting role or into one of the Commercial Finance teams driving decision support across the business.
Key Skills Needed
- Qualified accountant,
- Experience of lease accounting (either in audit or commercial) under IFRS (IAS 17, IFRS 16 etc)
- Ability to work methodically and efficiently to ensure targets for completed leases per day are achieved
- Pro-active communicator who can independently raise queries, share lessons learned and incorporate the suggestions of other team members
- Big 4 background preferred but not essential
- Large Plc experience preferred but not essential
- Retail experience (either in audit or commercial) preferred but not essential