It’s that time of year again: 2019 year-end audits for calendar-year companies are right around the corner. Implementing new accounting standards and related internal controls, including revenue recognition and lease accounting, are top-of-mind for auditors once again this year.

Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....