- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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 adopters of the new revenue standard are big companies with little change to their reported revenue numbers, but more substantial change to disclosures.
Auditors are under clear orders from their regulators to show no mercy in their assessment of corporate transition to the new revenue recognition rules.
Regulations are sure to be rolled back under President Donald Trump, but the question is which regulations, and how much? Is your organization as prepared to respond when regulations are loosened as it was when they were tightened?
