- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-07-26T18:21:00
SEC comments on early reports under the new revenue recognition standard tended to sway companies to revise their reporting, analysis shows.
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Revenue recognition drove more restatements in 2018 than in prior years and caused more restatements than any other area of accounting, a new study finds.
It’s more than big change prompting major deferrals for pending accounting rules. It’s also about the growing tension between estimation and precision.
While most public companies have yet to complete a full year of reporting under new revenue recognition rules, some are already finding reasons to restate.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
