Norsk Gjenvinning is a complex business with a high number of leases. Their 1,800 employees at more than 60 entities in seven different business segments have entered into almost 400 leasing contracts (at the end of 2022) in five countries of operation. These leasing contracts have a combined lease liability of almost NOK 2 billion.

“It goes without saying that completeness is itself an independent challenge. It is quite a task to make sure all contracts are registered, and we need to engage a lot of people in our organization to get the full picture. Several times a year we review the completeness, comparing budget reports from the lease accounting software to actual expenses.”

“I think it is important to have a plan and exercise clear deadlines for all people involved in the process. Prepare as much as possible in advance. Talk to your auditors about how they can access your lease accounting solution for reviewing your contracts and reporting.”

“Since we have so many leases we are pretty much dependent on using software for IFRS 16 reporting. House of Control’s solution is easy to use, with a lot of helpful user guides available in the solution. And whenever we need more help, it is only a phone call away.”

“Renewals, expired contracts, options – those are keywords for what we do. To ensure sound contract management we are very much helped by the software that sends us useful notifications.”