FRS 102 Client Story: Transport Business – Managing Complex Lease Portfolios
We worked alongside the client from the outset, helping them plan and structure the transition
The problem
A large transport business faced significant complexity in transitioning to FRS 102 due to its extensive portfolio of operating leases across both property and vehicles. Each property lease contained unique terms, requiring detailed individual assessment and at times, considering the interpretation of detailed rules in practice. The scale and variability of agreements made the process far more time-consuming than originally anticipated by the client, creating risk around accuracy and compliance.
The solution
We worked alongside the client from the outset, helping them plan and structure the transition. Rather than waiting for a completed position, we provided ongoing, real-time support as their team reviewed each lease. This collaborative approach enabled the client to sense-check interpretations, resolve technical questions quickly, and build confidence in their methodology as they progressed.
The outcome
The client was able to navigate a highly complex lease accounting transition with clarity and control. By engaging early and throughout the process, they reduced uncertainty, avoided rework, and ensured a compliant and well-evidenced approach to FRS 102.