Preparing for the Leases Accounting Standard: A Tool for Audit Committees
Apr 04, 2018
On April 4, 2018, the Center for Audit Quality (CAQ) released a new tool designed to help audit committees exercise their oversight responsibilities as companies implement a new leases accounting standard that begins to take effect in January 2019.
The CAQ tool, Preparing for the Leases Accounting Standard: A Tool for Audit Committees, includes an overview of the new standard and offers important questions for audit committee members to consider for successful implementation.
The new standard is broad and will fundamentally change how companies account for leases. Implementation will require significant time and resources because it will impact multiple divisions within the organization.
Download the tool on the CAQ's website.
