- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Q4 dash to new lease accounting is on, and it’s looking like some companies will not flip the switch to new systems by the Jan. 1 effective date.
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SEC staff members met with the Center for Audit Quality’s SEC Regulations Committee to acknowledge concerns and answer questions associated with new lease accounting rules.
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
With leases about to hit corporate balance sheets, companies need to shift gears to focus on the ongoing implications of new lease accounting rules.
