NOS Automates IFRS 16 Compliance and Strengthens Financial Reporting
Executive Summary
NOS needed to comply with IFRS 16, recognising lease contracts on the balance sheet and continuously calculating their financial impact.
Timestamp implemented a solution to automate these calculations and support regulatory compliance, providing information on their impact on the balance sheet, income statement and cash flow.
O Desafio
The application of IFRS 16 required NOS to accurately manage the recognition of lease contracts and their ongoing financial impact.
The challenge was to ensure regulatory compliance while maintaining the reliability of financial KPIs and corporate reporting. NOS-U-
A Solução
Timestamp implemented a solution designed to automate IFRS 16 compliance, facilitating the calculation and monitoring of the financial impact of lease contracts.
IFRS 16 Automation
Automation of lease contract calculations using predefined rules and automated calculations.
Financial Impact
Calculation of the impact of lease contracts on the balance sheet, income statement and cash flow, providing a consistent view of their financial effects.
Reporting and Regulatory Control
Improved financial reporting accuracy and regulatory control through a structured and automated calculation process.
Business Impact
Solution Scope
IFRS 16 Compliance
Automated management of requirements associated with lease contracts.
Automated Calculations
Predefined rules and calculations to continuously determine their financial impact.
Reliable Financial Reporting
Improved financial information accuracy and support for regulatory control.
O Cliente
NOS is one of Portugal's leading telecommunications providers, offering integrated television, internet, voice, data and digital services. The company also plays a significant role in pay TV, next-generation broadband services, and film distribution and exhibition in the Portuguese market.
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