IAS 16: Property, Plant and Equipment
Recognition, measurement, depreciation, and derecognition of PP&E.
Why IAS 16 matters
Componentization and useful-life judgments are inspection focus areas, especially in capital-intensive industries (mining, energy, telecom).
Framework: International Accounting Standards (IAS)
IAS were issued by the IASC before being superseded by the IASB. Many IAS remain in force and are part of IFRS as adopted in Canada.
Primary source: IFRS Foundation
Frequently asked
What is IAS 16?
Recognition, measurement, depreciation, and derecognition of PP&E.
Why does IAS 16 matter for an audit?
Componentization and useful-life judgments are inspection focus areas, especially in capital-intensive industries (mining, energy, telecom).
Which framework does IAS 16 belong to?
IAS 16 falls under International Accounting Standards (IAS). IAS were issued by the IASC before being superseded by the IASB. Many IAS remain in force and are part of IFRS as adopted in Canada.
Related standards — International Accounting Standards (IAS)
See how Auditus checks IAS 16
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including IAS 16.