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FEI group provides guides on leases, CECL controls

Tammy Whitehouse | November 16, 2018

Taking the internal control bull by its horns, the preparer community has assembled itself and developed its own guidance on how to assure sound controls with respect to new accounting adoptions.

The Committee on Corporate Reporting at Financial Executives International issued two guides to address internal control considerations as companies prepare to implement new accounting standards on leases and on credit losses. The committee wanted to put its own stamp on the formation of insights and best practices that might help preparers develop and apply internal controls as they transition to the new accounting requirements.

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