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Auditors prepare to inspect revenue recognition adoption

Tammy Whitehouse | February 14, 2017

With year-end audits winding down, public companies should be forewarned that auditors are entrenching and developing their game plans for how to scrutinize the impending switch to new revenue recognition accounting.

The 2017 year-end audit cycle will still consist of companies mostly following current revenue recognition rules, with only a handful adopting early. As companies move through their implementation, auditors plan to take a hard gaze over management’s shoulder to study how they are preparing for the new accounting and how they will explain it to investors.

All public companies will be required to follow the massive change to new revenue recognition accounting... To get the full story, subscribe now.