|WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018|
IFRS 16 replaces IAS 17, Leases and related interpretations viz. IFRIC 4, Determining whether an Arrangement contains a Lease; SIC-15, Operating LeasesIncentives; and SIC-27, Evaluating the Substance of Transactions Involving the Legal Form of a Lease.
IFRS 16 substantially carries forward lessor accounting requirements in IAS 17, Leases. Disclosures, however, have been enhanced.
IFRS 16 is effective for annual reporting periods beginning on or after 1 January 2019. Early application is permitted for entities that apply IFRS 15, Revenue from Contracts with Customers at or before the date of initial application of IFRS 16.
A lessee shall apply IFRS 16 either retrospectively to each prior reporting period presented or record a cumulative effect of initial application of IFRS 16 as an adjustment to opening balance of equity at the date of initial application.
We are currently evaluating the impact of this new standard on our consolidated financial statements.