CAQ issues publication on revenue for audit committees
Dec 13, 2016
On December 13, 2016, the Center for Audit Quality (CAQ) of the American Institute of Certified Public Accountants (AICPA) released the publication "Preparing for the New Revenue Recognition Standard: A Tool for Audit Committees".
The publication is a tool to help audit committees assess a company’s implementation of the new revenue recognition standard. It is organized into four sections:
- Understanding the New Revenue Recognition Standard – What Is It?
- Evaluating the Company’s Impact Assessment – How Will Revenue Recognition Change?
- Evaluating the Implementation Project Plan – How Do We Need to Prepare?
- Other Implementation Considerations – What Else Do We Need to Consider?
In addition to key questions for audit committees, the tool offers a list of resources on revenue recognition.
Review the publication on the CAQ's website.
