- 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.
Within two weeks of gaining power, the U.K.’s newly elected Labor government has confirmed its intention to beef up the audit regulator and strengthen corporate governance.
