- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The year-end push to adopt new lease accounting is taking more time and more money than companies expected, according to a new poll by EY.
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Midway through the first year of complying with new lease accounting rules, only a little more than half of public companies said they completed their transition.
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
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.
