FRS 102 Lease Accounting Checklist

A step-by-step guide to prepare for, and maintain, compliance under the new UK GAAP lease accounting standard

With a new lease accounting model taking effect on Jan. 1, 2026, UK and Ireland-based businesses must now bring most leases onto the balance sheet. Whether you’re preparing for FRS 102 lease accounting implementation or looking to ensure your reporting is accurate post-adoption, this checklist is your go-to guide.

In this easy-to-use checklist, you’ll learn how to:

• Understand the updated FRS 102 lease accounting requirements

• Build and maintain a centralized lease inventory

• Evaluate the financial and operational impact on your business

• Update policies, controls, and reporting workflows

• Apply transition reliefs and maintain audit readiness

• Monitor and manage ongoing lease compliance

Whether you’re just getting started with FRS 102 lease accounting compliance – or already operating under the new rules – use this checklist to streamline implementation and make sure your lease accounting process is future ready.

‍