With revenue adoption lagging, grim predictions unfold
Evidence is mounting that companies are way behind in complying with new revenue rules, prompting predictions of late filings, internal control weaknesses, even restatements.
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Early revenue adopters report little change to numbers
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Auditors are under clear orders from their regulators to show no mercy in their assessment of corporate transition to the new revenue recognition rules.
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
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 ...