Insights

A Wake Up Call for Companies that Haven't Yet Started Planning for the New Revenue Recognition Changes

At a recent audit committee conference, SEC Chief Accountant James Schnurr focused a significant portion of his speech on the new revenue recognition rules. In addition to the general message that audit committees need to be closely involved with their companies implementation programs, he also noted that the SEC staff will be looking for disclosures of how companies plan to adopt the new standard in their 2015 year-end financial statements.

This doesn't leave a lot of time for companies that have not yet started. See full speech HERE.

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