Financial Reporting Alert 17-5 — SEC reemphasizes its continued focus on the new revenue standard, including advancing ICFR

Published on: Apr 04, 2017

This Financial Reporting Alert discusses SEC Chief Accountant Wesley Bricker's speech at the 13th Annual Life Sciences Accounting & Reporting Congress in March 2017. Mr. Bricker reminded registrants of the importance of implementing the FASB's new revenue standard, Revenue From Contracts With Customers, in a timely manner and of providing the required transition disclosures. He also stressed the key role of internal control over financial reporting (ICFR) in the standard's successful implementation.

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