Companies that are on the front of the curve in implementing the new revenue recognition standard are finding it a daunting task requiring major planning and coordination.
At Compliance Week’s annual conference this week, Bavan Holloway, vice president of corporate audit at Boeing, said companies need to have a strong change management process in place to plan for and drive the implementation of the new accounting standard. “It’s really complicated, and critical to have all the right folks involved,” she said.
