IFRS 15/16 Implementation Survey

With the implementation of IFRS 15 and IFRS 16 fast approaching we are interested to know how different businesses are handling this change and how far through the transition process they are. Please complete our survey to help us understand how your business is tackling the implementation of these standards.

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* 1. Where are you in the IFRS 15/16 implementation journey?

I've only just heard about these standards

Dipped into the new standards and understand the key differences

Have a plan for transition

Have started implementing a plan for transition

Have adopted it already

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* 2. Where do you think you should be?

I've only just heard about these standards

Dipped into the new standards and understand the key differences

Have a plan for transition

Have started implementing a plan for transition

Have adopted it already

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* 3. What three words best describe your experience of implementing IFRS 15/16 to date?

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* 4. What's your priority during the transition process?

Keeping costs to a minimum

Ensure my systems and processes are fit for purpose

Managing stakeholders expectations

Training staff

Minimising impact on profit and key metrics

Minimising tax impacts

Appearing knowledgeable about IFRS 15/16 in front of my boss and staff

Other (please specify)

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* 5. Have you chosen your transition policies - eg full or modified retrospective?

Yes

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* 6. What area of implementation are you most concerned about?

Choosing the right transition policy

How to identify the data required to implement the standards

Whether my business's systems can cope

How to design the appropriate controls to capture the information in the future

Resourcing

Getting the disclosures right

Other (please specify)

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* 7. How many different types of business streams/revenue contracts do you have?

1 - 2

3 - 5

6 - 10

10 +

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* 8. What type of business is your company?

Main market listed

AIM listed

Large private company

Small private company

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* 9. What sector does your business operate in?

Business support services

Consumer/retail

Financial services

Heath sector

Manufacturing and industrial

Public sector

Technology, media and telecommunications

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* 10. Where does your business predominantly operate?

South East

South West

London

East Midlands

West Midlands

Yorkshire and the Humber

East of England

Wales

North East

North West

Scotland

International

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* 11. Has either standard resulted in any changes to your business operations or strategy eg change in product design or contract terms or a change in leasing strategy? If so please provide an indication of the change.

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* 12. Which standard's implementation worries you most?

IFRS 15

IFRS 16

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* 13. How much do you think the implementation of these standards will cost your business?

Under £10,00

£10,001 - 20,000

£20,001 - 30,000

£30,001 - 50,000

£50,001 - 100,000

£100,001 - 200,000

£200,001 +

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* 14. Do you think the introduction of IFRS 15 and IFRS 16 is a positive for businesses?

Yes