The year-end push to adopt new lease accounting is taking more time and more money than companies expected, according to a new poll by EY.
A significant majority, 85 percent, of the finance and IT professionals in EY’s poll said their companies will adopt the standard on time. Nearly three-fourths of companies are implementing a long-term technology solution to achieve compliance, and 85 percent of those say they will rely on manual or interim solutions at the effective date because the long-term system will not be ready in time.
