Deloitte cuts IFRS 16 lease review time by up to 30% with AI-powered contract review

Deloitte, a global audit, consulting, tax and advisory firm serving 80% of the Fortune 500, faced a large-scale compliance challenge under the new IFRS 16 lease accounting standard. The firm needed to review high volumes of leases quickly and accurately, including populations such as roughly 2,500 leases across Canada and the U.S.

Deloitte adopted Litera Kira's machine-learning contract review software and built an end-to-end IFRS 16 workflow combining Kira's built-in models with its Quick Study training tool. The workflow extracts 40+ data points from large lease populations, exports client-ready Excel reports and risk assessments, and populates contract management systems like Deloitte's dTrax. The firm has scaled the tool to over 5,000 Kira users worldwide.

The IFRS 16 workflow cut lease-review time by up to 30% compared to manual review, delivering cost and efficiency gains for Deloitte's large-scale compliance engagements.

• Pairing a vendor's built-in AI models with a custom-training tool (Quick Study) allows extraction of granular data points (40+) from large, varied lease populations.
• Piping AI review output directly into existing systems (Excel reports, dTrax) streamlines downstream compliance workflows.
• Scaling to 5,000+ users demonstrates the tool's reliability for firm-wide, high-stakes compliance initiatives.