Auditors prepare to inspect revenue recognition adoption
Public companies beware: Auditors plans to scrutinize the impending switch to new revenue recognition accounting. Tammy Whitehouse reports.
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Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...