FRS 102 Lease Accounting: Turning Compliance into Competitive Advantage

As the 2026 deadline for the revised FRS 102 lease accounting standard approaches, finance leaders across the UK are facing a critical inflection point. The new requirements, bringing most leases onto the balance sheet, are more than a compliance exercise. They’re a call to modernise, streamline, and future-proof financial operations.

The challenge: Complexity meets urgency

For many organisations, the transition to the updated FRS 102 standard is daunting. Manual spreadsheets, fragmented lease data, and inconsistent processes are no longer sustainable. The stakes are high and missteps can lead to audit issues, financial misstatements, and reputational risk.

An opportunity for a smarter way forward

At MRI Software, we’ve helped thousands of organisations navigate complex lease accounting transitions, including IFRS 16 and ASC 842. We understand the pressure finance teams are under—and we know how to turn that pressure into progress.

One example is Halfords. Faced with managing almost 700 leases, they adopted MRI’s ProLease solution to streamline IFRS 16 compliance. By moving away from spreadsheets, they achieved accurate reporting, audit readiness, and confidently included lease obligations in their year-end financial statements. Proving that the right technology can transform compliance into a strategic advantage. As noted by Katie Gregory, Head of Group Financial Reporting at Halfords:

The volume of data involved meant, without ProLease Enterprise, we would not have been able to execute our year-end financial reporting.

Your roadmap to readiness

Here’s how we help you take control of your FRS 102 journey:

• Assess your current lease portfolio to identify gaps and risks.

• Automate lease calculations, disclosures, and reporting with intelligent software.

• Align your processes with FRS 102 requirements—without the spreadsheet chaos.

Our solutions are built for real estate and lease complexity, giving you the tools to stay compliant and agile.

Why act now?

Waiting until the last minute increases the risk of errors, rushed decisions, and missed opportunities. By starting early, you gain time to optimise your processes, train your teams, and ensure a smooth transition.

Gain confidence and clarity

With MRI Software, you don’t just meet the standard, you exceed it. Our clients gain:

• Audit-ready accuracy

• Real-time visibility into lease liabilities

• Streamlined workflows and reduced manual effort

Most importantly, they gain peace of mind.

Take the first step

Ready to simplify your FRS 102 transition? Book a personalised demo of our lease accounting solution.