How audit committees can oversee FASB standard adoption

by Ken Tysiac | Dec 28, 2018   ()

The abundance of game-changing new accounting standards issued by FASB has given audit committees a lot to consider as 2018 concludes. New standards for revenue recognition, lease accounting, and accounting for credit losses have demanded intense focus from company finance departments. Audit committees are charged with oversight and making sure proper governance is in place to enable implementation to be completed successfully.
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Source: Journal of Accountancy

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